Foreclosure Home Housing & Foreclosure Reports South Carolina Foreclosure Activity Falls in January

South Carolina Foreclosure Activity Falls in January

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Statewide filings down 5 percent from December

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 3,286 South Carolina properties in January, a 5 percent decrease from December, but still 13 percent above the level reported for January 2011, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

South Carolina had the 15th highest foreclosure rate, reporting one in every 651 South Carolina housing units with a foreclosure filing in January.

York County posts top foreclosure rate in the state for January
 One in every 280 housing units in York County had a foreclosure filing in January — 2.2 times the national average and 2.3 times the state average — the highest foreclosure rate of all South Carolina counties for the month. Jasper County had the second highest rate of one in every 396 housing units with a foreclosure filing during the month — 1.6 times the national average and 1.6 times the state average. Dorchester County had the third highest rate of one in every 400 housing units with a foreclosure filing during the month — 1.6 times the national average and 1.6 times the state average.

Horry County leads state in foreclosure activity in January
 Horry County led all counties, reporting 379 properties with foreclosure filings for the month. Greenville County had the second highest total, reporting 365 properties with foreclosure filings. York County was third, reporting 336 properties with foreclosure filings. Fourth highest was Richland County, recording 282 properties with foreclosure filings. Charleston County was fifth highest, tallying 261 properties with foreclosure filings for the month.

State a moderate contributor to total foreclosure activity in January
 South Carolina accounted for 2 percent of the 210,941 properties with foreclosure filings reported nationwide in January. Total U.S. activity increased by 3 percent from December, but was still down over 19 percent from the level reported in January 2011. One in every 624 U.S. housing units received a foreclosure filing during the month.

“Although overall foreclosure activity was down from a year ago for the 16th straight month in January, we continue to see signs on a local and regional level that the frozen-up foreclosure process is beginning to thaw,” said Brandon Moore, CEO of RealtyTrac. “Foreclosure activity increased on a year-over-year basis for the first time in more than 12 months in Florida, Michigan, Indiana and Pennsylvania, following a pattern we saw in late 2011 in states such as California, Arizona and Massachusetts.

“We expect the pattern of increasing foreclosures to continue in the coming months, especially given the finalized mortgage and foreclosure settlement reached in early February between 49 state attorneys general and five of the nation’s largest lenders,” Moore continued. “The settlement sets forth clear guidelines for lenders and servicers to follow when foreclosing, which should allow them to push through some of the delayed foreclosures from last year. Other roadblocks to foreclosure are still in place at the state level, however, including legislation altering the foreclosure process and lawsuits against lenders. We expect to see somewhat uneven trends in local and regional foreclosure numbers going forward as lenders work through these additional legislative and legal roadblocks.”

 

South Carolina Top Foreclosure Rates By County – January 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

n/a

n/a

South Carolina

0

1,633

0

728

925

3,286

651

0.96

n/a

 

 

 

 

 

 

 

 

 

 

York

0

109

0

96

131

336

280

2.23

2.32

Jasper

0

15

0

5

6

26

396

1.58

1.64

Dorchester

0

97

0

9

32

138

400

1.56

1.63

Horry

0

138

0

92

149

379

491

1.27

1.33

Beaufort

0

82

0

49

53

184

506

1.24

1.29

 

South Carolina Top Foreclosure Totals by County – January 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X   HU (rate)

% Chg   Dec 11

% Chg    Jan 11

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

2.89

-19.28

South Carolina

0

1,633

0

728

925

3,286

651

-5.36

13.12

 

 

 

 

 

 

 

 

 

 

Horry

0

138

0

92

149

379

491

-2.57

7.67

Greenville

0

189

0

107

69

365

536

29.43

29.89

York

0

109

0

96

131

336

280

85.64

114.01

Richland

0

146

0

40

96

282

573

-47.97

-33.18

Charleston

0

188

0

35

38

261

651

-20.18

15.49

 


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