SOUTH DAKOTA FORECLOSURES INCREASE 5 PERCENT IN FEBRUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Also Up 5 Percent From a Year Ago

 

IRVINE, Calif. – March 26, 2007 – South Dakota reported 22 foreclosure filings in February, a 5 percent increase from the previous month, and a 5 percent increase from February 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 850,000 properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

Although South Dakota foreclosures have increased slightly in February and from this time last year, the state still holds one of the lowest numbers nationwide,” said James J. Saccacio, chief executive officer of RealtyTrac. “Strong job growth — especially in chemical manufacturing and general merchandising — is likely helping to keep foreclosure rates so low.”

 

South Dakota ranked among the five lowest states in total foreclosures for February. The state’s foreclosure rate of one foreclosure filing for every 14,691 households ranks it among the 10 lowest states.

 

Minnehaha County accounts for all foreclosure activity in state

Minnehaha County accounted for all foreclosure activity for South Dakota in February, reporting 22 foreclosure filings. Its foreclosure rate of one foreclosure filing for every 2,738 households was 5.4 times the state average.

 

State contributes less than 1 percent to national total

Total foreclosure filings in South Dakota accounted for less than 1 percent of the 130,786 filings nationwide in February. The national total was down 4 percent from the previous month, but still up 12 percent from February 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 884 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                           South Dakota Foreclosure Market by County – February 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

29,662

47,127

9,404

22,479

22,114

130,786

884

n/a

n/a

South Dakota

2

20

0

0

0

22

14,691

0.06

n/a

 

 

 

 

 

 

 

 

 

 

Day

0

0

0

0

0

0

n/a

0.000

0.000

Lincoln

0

0

0

0

0

0

n/a

0.000

0.000

Mccook

0

0

0

0

0

0

n/a

0.000

0.000

Minnehaha

2

20

0

0

0

22

2,738

0.323

5.366

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new construction properties, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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