South Dakota Foreclosure Activity Trends Upward in May

Statewide foreclosure filings up 124 percent from April

 

South Dakota foreclosure activity more than doubled in May to 38 properties with foreclosure filings, a 124 percent increase from the previous month and 27 percent ahead of May 2008, according to RealtyTrac’s latest U.S. Foreclosure Market Report.

 

“Foreclosure activity rose significantly in South Dakota in May as the state’s unemployment rate also inched up to 5 percent,” said James J. Saccacio, chief executive officer of RealtyTrac. “Still, the state is fairing far better than much of the nation in terms of both foreclosure activity and joblessness.”

 

South Dakota ranked 47th in the country in total properties with foreclosure filings for May. One in every 9,401 South Dakota housing units received a foreclosure filing during the month, ranking 47th among the 50 states.

 

Minnehaha accounts for nearly all of state’s foreclosure activity for May

Minnehaha County led the state reporting 35 properties with foreclosure filings for the month. Second highest total was in Davison, Deuel and Lincoln counties, each reporting one property with foreclosure filing.

 

Minnehaha County posts state’s highest foreclosure rate for May

Minnehaha County posted the highest county foreclosure rate in the state, with one in every 2,091 housing units receiving a foreclosure filing during the month. Deuel County had the second highest rate, with one in every 2,311 housing units receiving a foreclosure filing. Davison County posted the third highest rate, where one in every 8,678 housing units received a foreclosure filing during the month.

 

State a minor contributor to nation’s foreclosure activity for May

Foreclosure activity in South Dakota represented less than 1 percent of the 321,480 properties with foreclosure filings reported nationwide in May. Total U.S. activity fell 6 percent from the previous month but was still nearly 18 percent ahead of May 2008. One in every 398 U.S. housing units received a foreclosure filing during the month.

 

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 month — 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 month — which is extremely rare — 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 Foreclosure Market Data by County – May 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Apr 09

% Chg May 08

 

 

 

 

 

 

 

 

 

 

United States

55,442

67,687

100,578

32,756

65,017

321,480

398

– 6.01

17.76

South Dakota

0

0

0

32

6

38

9,401

123.53

26.67

 

 

 

 

 

 

 

 

 

 

Aurora

0

0

0

0

0

0

n/a

n/a

n/a

Beadle

0

0

0

0

0

0

n/a

n/a

-100.00

Bennett

0

0

0

0

0

0

n/a

n/a

n/a

Bon Homme

0

0

0

0

0

0

n/a

n/a

n/a

Brookings

0

0

0

0

0

0

n/a

-100.00

-100.00

Brown

0

0

0

0

0

0

n/a

n/a

n/a

Brule

0

0

0

0

0

0

n/a

n/a

n/a

Buffalo

0

0

0

0

0

0

n/a

n/a

n/a

Butte

0

0

0

0

0

0

n/a

n/a

n/a

Campbell

0

0

0

0

0

0

n/a

n/a

n/a

Charles Mix

0

0

0

0

0

0

n/a

n/a

n/a

Clark

0

0

0

0

0

0

n/a

n/a

n/a

Clay

0

0

0

0

0

0

n/a

n/a

n/a

Codington

0

0

0

0

0

0

n/a

n/a

-100.00

Corson

0

0

0

0

0

0

n/a

n/a

n/a

Custer

0

0

0

0

0

0

n/a

n/a

n/a

Davison

0

0

0

0

1

1

8,678

n/a

n/a

Day

0

0

0

0

0

0

n/a

n/a

n/a

Deuel

0

0

0

0

1

1

2,311

n/a

n/a

Dewey

0

0

0

0

0

0

n/a

n/a

n/a

Douglas

0

0

0

0

0

0

n/a

n/a

n/a

Edmunds

0

0

0

0

0

0

n/a

n/a

n/a

Fall River

0

0

0

0

0

0

n/a

n/a

n/a

Faulk

0

0

0

0

0

0

n/a

n/a

n/a

Grant

0

0

0

0

0

0

n/a

n/a

n/a

Gregory

0

0

0

0

0

0

n/a

n/a

n/a

Haakon

0

0

0

0

0

0

n/a

n/a

n/a

Hamlin

0

0

0

0

0

0

n/a

n/a

n/a

Hand

0

0

0

0

0

0

n/a

n/a

n/a

Hanson

0

0

0

0

0

0

n/a

n/a

n/a

Harding

0

0

0

0

0

0

n/a

n/a

n/a

Hughes

0

0

0

0

0

0

n/a

n/a

n/a

Hutchinson

0

0

0

0

0

0

n/a

n/a

n/a

Hyde

0

0

0

0

0

0

n/a

n/a

n/a

Jackson

0

0

0

0

0

0

n/a

n/a

n/a

Jerauld

0

0

0

0

0

0

n/a

n/a

n/a

Jones

0

0

0

0

0

0

n/a

n/a

n/a

Kingsbury

0

0

0

0

0

0

n/a

n/a

n/a

Lake

0

0

0

0

0

0

n/a

n/a

n/a

Lawrence

0

0

0

0

0

0

n/a

n/a

n/a

Lincoln

0

0

0

0

1

1

11,746

-50.00

n/a

Lyman

0

0

0

0

0

0

n/a

n/a

n/a

Marshall

0

0

0

0

0

0

n/a

n/a

n/a

McCook

0

0

0

0

0

0

n/a

n/a

n/a

McPherson

0

0

0

0

0

0

n/a

n/a

n/a

Meade

0

0

0

0

0

0

n/a

n/a

n/a

Mellette

0

0

0

0

0

0

n/a

n/a

n/a

Miner

0

0

0

0

0

0

n/a

n/a

n/a

Minnehaha

0

0

0

32

3

35

2,091

191.67

45.83

Moody

0

0

0

0

0

0

n/a

n/a

n/a

Pennington

0

0

0

0

0

0

n/a

-100.00

-100.00

Perkins

0

0

0

0

0

0

n/a

n/a

n/a

Potter

0

0

0

0

0

0

n/a

n/a

n/a

Roberts

0

0

0

0

0

0

n/a

n/a

n/a

Sanborn

0

0

0

0

0

0

n/a

n/a

n/a

Shannon

0

0

0

0

0

0

n/a

n/a

n/a

Spink

0

0

0

0

0

0

n/a

n/a

n/a

Stanley

0

0

0

0

0

0

n/a

n/a

n/a

Sully

0

0

0

0

0

0

n/a

n/a

n/a

Todd

0

0

0

0

0

0

n/a

n/a

n/a

Tripp

0

0

0

0

0

0

n/a

n/a

n/a

Turner

0

0

0

0

0

0

n/a

n/a

n/a

Union

0

0

0

0

0

0

n/a

n/a

n/a

Walworth

0

0

0

0

0

0

n/a

n/a

n/a

Yankton

0

0

0

0

0

0

n/a

n/a

n/a

Ziebach

0

0

0

0

0

0

n/a

n/a

n/a

 

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