SOUTH DAKOTA FORECLOSURE ACTIVITY DECREASES 21 PERCENT IN FIRST QUARTER

State Foreclosure Activity Up 50 Percent From Q1 2008

Monthly Foreclosure Activity Down 22 percent in March, Up 56 Percent From Year Ago

 

IRVINE, Calif. – April 27, 2009 – Foreclosure filings were reported on 96 South Dakota properties in the first quarter of 2009, a 21 percent decrease from the previous quarter, but still 50 percent above the level reported for Q1 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

South Dakota reported 25 properties with foreclosure filings in March, a 22 percent decrease from the previous month, but still 56 percent above its March 2008 total.

 

“South Dakota’s foreclosure activity decreased in the first quarter of 2009, though it remained significantly higher than what was reported for the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s economy continues to fair better than many other states, which is in large part due to its thriving agriculture and natural resource sectors.”

 

South Dakota ranked 49th in the country in total properties with foreclosure filings for the quarter. One in every 3,721 South Dakota housing units received a foreclosure filing during the month, the 49th highest state foreclosure rate in the nation.

 

Minnehaha County the single largest contributor to state total for the quarter

Minnehaha County led the state reporting 79 properties with foreclosure filings. Pennington County was second, reporting seven properties with foreclosure filings for the quarter. Lincoln County was in third, reporting four properties with foreclosure filings.

 

Minnehaha County posts state’s top foreclosure rate in the state for first quarter

Minnehaha County led the state, with one in every 926 housing units receiving a foreclosure filing — 4.0 times the state average. Lincoln County came in second, with one in every 2,937 housing units receiving a foreclosure filing — 1.3 times the state average. Hutchinson County posted the third highest foreclosure rate, where one in every 3,586 housing units received a foreclosure filing during the month — on par with the state average.

 

State a minor contributor to nation’s foreclosure total for Q1 2009

South Dakota accounted for less than 1 percent of the 803,489 properties with foreclosure filings reported nationwide for the first quarter of 2009. The national total represented a 9 percent increase in activity from the previous quarter and was almost 24 percent ahead of the total reported for Q1 2008. One in every 159 U.S. housing units received a foreclosure filing during the quarter.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the quarter  — broken out by type of filing at the county, state and national level. 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 filed against a property during the quarter — which is extremely rare — only the most recent filing is counted in the report.

 

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

 

                       South Dakota Foreclosure Market Data by County – Q1 2009

Properties with Foreclosure Filings

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

%Change from Q4 08

%Change from Q1 08

 

 

 

 

 

 

 

 

 

 

United States

156,933

149,852

225,752

80,409

190,543

803,489

159

9.16

23.63

South Dakota

0

0

1

92

3

96

3,721

-20.66

50.00

 

 

 

 

 

 

 

 

 

 

Aurora

0

0

0

0

0

0

Beadle

0

0

0

0

0

0

Bennett

0

0

0

0

0

0

Bon Homme

0

0

0

0

0

0

-100.00%

Brookings

0

0

0

0

0

0

Brown

0

0

0

0

0

0

-100.00%

Brule

0

0

0

0

0

0

Buffalo

0

0

0

0

0

0

Butte

0

0

0

0

0

0

Campbell

0

0

0

0

0

0

Charles Mix

0

0

0

0

0

0

Clark

0

0

0

0

0

0

-100.00%

Clay

0

0

0

0

0

0

-100.00%

-100.00%

Codington

0

0

0

1

0

1

12,170

-75.00%

Corson

0

0

0

0

0

0

Custer

0

0

0

0

0

0

-100.00%

Davison

0

0

1

0

0

1

8,678

0.00%

Day

0

0

0

0

0

0

Deuel

0

0

0

0

0

0

Dewey

0

0

0

0

0

0

Douglas

0

0

0

0

0

0

Edmunds

0

0

0

0

0

0

Fall River

0

0

0

0

0

0

-100.00%

Faulk

0

0

0

0

0

0

Grant

0

0

0

0

0

0

Gregory

0

0

0

0

0

0

Haakon

0

0

0

0

0

0

Hamlin

0

0

0

0

0

0

Hand

0

0

0

0

0

0

Hanson

0

0

0

0

0

0

Harding

0

0

0

0

0

0

Hughes

0

0

0

0

0

0

-100.00%

Hutchinson

0

0

0

1

0

1

3,586

Hyde

0

0

0

0

0

0

Jackson

0

0

0

0

0

0

Jerauld

0

0

0

0

0

0

Jones

0

0

0

0

0

0

Kingsbury

0

0

0

0

0

0

Lake

0

0

0

0

0

0

Lawrence

0

0

0

0

0

0

-100.00%

Lincoln

0

0

0

4

0

4

2,937

-20.00%

Lyman

0

0

0

0

0

0

Marshall

0

0

0

0

0

0

McCook

0

0

0

0

0

0

McPherson

0

0

0

0

0

0

Meade

0

0

0

0

1

1

11,523

-75.00%

Mellette

0

0

0

0

0

0

Miner

0

0

0

0

0

0

Minnehaha

0

0

0

78

1

79

926

2.60%

27.42%

Moody

0

0

0

0

0

0

Pennington

0

0

0

7

0

7

6,030

-53.33%

Perkins

0

0

0

0

0

0

Potter

0

0

0

0

0

0

Roberts

0

0

0

0

0

0

-100.00%

Sanborn

0

0

0

0

0

0

-100.00%

Shannon

0

0

0

0

0

0

Spink

0

0

0

0

0

0

Stanley

0

0

0

0

0

0

Sully

0

0

0

0

0

0

Todd

0

0

0

0

0

0

Tripp

0

0

0

0

0

0

Turner

0

0

0

0

0

0

-100.00%

Union

0

0

0

0

0

0

-100.00%

Walworth

0

0

0

0

0

0

Yankton

0

0

0

1

1

2

4,724

0.00%

Ziebach

0

0

0

0

0

0

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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