CHARLOTTE -- The news is only getting worse on home foreclosures. The number of homes in North Carolina that slipped into foreclosure this past year increased 67 percent. While that's better than the national average of 79 percent, it's a trend that's very concerning to economists.

Numbers released Tuesday by RealtyTrac Inc. show a dramatic increase in the percentages of foreclosures across the country. Mecklenburg County saw a 51 percent increase, Wake County a 68 percent increase, and Guilford County a 131 percent increase. The national average was up 75 percent.

"It's both a concern and part of the ride we're on," said Wachovia chief economist Mark Vitner. He spoke to several hundred members of the commercial real estate market in Charlotte Tuesday night.

While alarming, Vitner says the percentages aren't as bad as they sound.

“The percentage increase in foreclosures is going to look huge because the base on these is actually relatively small."

One percent of all mortgages are currently in foreclosure. The residential mortgage mess is beginning to creep over to the commercial side, as well.

"There are an awful lot of us involved with commercial mortgage related industries that are going to see a pinch in the foreseeable future," said Dan Huffenus, a commercial real estate attorney.

Vitner also believes the housing market and number of foreclosures will get worse before it gets better.

"Usually foreclosures will top out about one year after the housing market bottoms out, so we probably have another solid year of increases ahead of us in foreclosures,” said Vitner.