South Dakota Foreclosure Activity Declines in January

Statewide filings down 89 percent from December

 

Foreclosure activity in South Dakota decreased in January to 14 properties with foreclosure filings, an 89 percent decline from December 2009, and down 64 percent from January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity dropped significantly in South Dakota in January, bringing the level of activity well below what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Adding to this downward trend is the fact that South Dakota now has one of the lowest unemployment rates in the nation at 4.7 percent.”

 

One in every 25,820 South Dakota housing units received a foreclosure filing in January, the 50th highest foreclosure rate in the nation.

 

Walworth County posts top foreclosure rate in the state for January

Walworth County posted the state’s highest county foreclosure rate in January, with one in every 3,228 housing units receiving a foreclosure filing. Pennington County had the second highest foreclosure rate, with one in every 5,371 housing units receiving a foreclosure filing. Clay County was third, with one in every 5,852 housing units receiving a foreclosure filing. Davison County came in fourth highest, with one in every 8,718 housing units receiving a foreclosure filing. Fifth highest rate was in Lincoln County, where one in every 12,179 housing units received a foreclosure filing during the month.

 

Pennington County led the state in total foreclosure filings for January

Pennington County led all counties, totaling eight properties with foreclosure filings for the month. Clay, Codington, Davison, Lincoln, Minnehaha and Walworth counties were second highest, each documenting one property with a foreclosure filing.

 

State a minor contributor to nation’s foreclosure total in January

South Dakota accounted for less than 1 percent of the 315,716 properties with foreclosure filings reported nationwide in January. Total U.S. activity declined nearly 10 percent from the previous month but was still 15 percent ahead of January 2009. One in every 409 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 Dakota Top Foreclosure Rates By County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

n/a

n/a

South Dakota

0

0

0

8

6

14

25,820

0.02

n/a

 

 

 

 

 

 

 

 

 

 

Walworth

0

0

0

0

1

1

3,228

0.13

8.00

Pennington

0

0

0

7

1

8

5,371

0.08

4.81

Clay

0

0

0

0

1

1

5,852

0.07

4.41

Davison

0

0

0

0

1

1

8,718

0.05

2.96

Lincoln

0

0

0

1

0

1

12,179

0.03

2.12

 

 

South Dakota Top Foreclosure Totals by County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Dec 09

% Chg Jan 09

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

-9.67

15.06

South Dakota

0

0

0

8

6

14

25,820

-89.06

-64.10

 

 

 

 

 

 

 

 

 

 

Pennington

0

0

0

7

1

8

5,371

700.00

100.00

Clay

0

0

0

0

1

1

5,852

 n/a

 n/a

Codington

0

0

0

0

1

1

12,273

 n/a

0.00

Davison

0

0

0

0

1

1

8,718

 n/a

 n/a

Lincoln

0

0

0

1

0

1

12,179

-87.50

0.00

Minnehaha

0

0

0

0

1

1

74,865

-99.14

-96.67

Walworth

0

0

0

0

1

1

3,228

 n/a

 n/a

 

 

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