South Carolina Foreclosure Activity Falls in April

Statewide foreclosure filings down 17 percent from March

 

Monthly foreclosure activity in South Carolina fell in April, down 17 percent from the previous month to 3,145 properties with foreclosure filings. This latest state total still represents a 36 percent year-over-year increase in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity in South Carolina decreased 17 percent in April, but remains substantially higher than what was reported for this time one year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s unemployment rate continued to improve for the third straight month, though the fact that it remains high at 11.6 percent is cause for concern among struggling homeowners.”

 

The state had the 26th highest state foreclosure rate in the nation with one in 654 South Carolina housing units receiving a foreclosure filing during the month.

 

Dorchester County posts top foreclosure rate for April

Dorchester County posted the highest county foreclosure rate in South Carolina in April, with one in every 278 housing units receiving a foreclosure filing — 2.4 times the state average. Beaufort County came in second, with one in every 282 housing units receiving a foreclosure filing — 2.3 times the state average. Greenville County was third, with one in every 402 housing units receiving a foreclosure filing — 1.6 times the state average.

 

Greenville County led the state in total foreclosures for April

Greenville County led the way, reporting 473 properties with foreclosure filings for the month. Charleston County was second highest, documenting 378 properties with foreclosure filings. Reporting 296 properties with foreclosure filings for the month, Beaufort County ranked third highest. Spartanburg County was fourth, reporting 285 properties with foreclosure filings. A total of 263 properties with foreclosure filings were reported in Horry County, the fifth highest county total in April.

 

State a modest contributor to nation’s month foreclosure total

South Carolina accounted for 1 percent of the 333,837 properties with foreclosure filings reported nationwide in April. Total U.S. activity declined more than 9 percent from the previous month and was 2 percent below the level reported in April 2009. One in every 387 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

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

 

 

South Carolina Top Foreclosure Rates By County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

n/a

n/a

South Carolina

0

1,520

0

654

971

3,145

654

0.59

n/a

 

 

 

 

 

 

 

 

 

 

Dorchester

0

53

0

88

33

174

278

1.39

2.35

Beaufort

0

83

0

99

114

296

282

1.37

2.32

Greenville

0

259

0

136

78

473

402

0.96

1.63

York

0

58

0

92

61

211

422

0.92

1.55

Spartanburg

0

205

0

2

78

285

429

0.90

1.53

 

 

South Carolina Top Foreclosure Totals by County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 10

% Chg Apr 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

South Carolina

0

1,520

0

654

971

3,145

654

-17.22

36.21

 

 

 

 

 

 

 

 

 

 

Greenville

0

259

0

136

78

473

402

-23.83

23.82

Charleston

0

173

0

98

107

378

457

-19.23

12.17

Beaufort

0

83

0

99

114

296

282

-11.90

36.41

Spartanburg

0

205

0

2

78

285

429

97.92

375.00

Horry

0

209

0

1

53

263

657

-1.13

30.85

 

 

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