South Dakota Foreclosure Activity Up 3 Percent in November

Statewide foreclosure filings up 140 percent from November 2008

 

South Dakota foreclosure activity rose for the month of November to 108 properties with foreclosure filings, up 3 percent from the previous month, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The monthly total is 140 percent ahead of the level reported in November 2008.

 

“Foreclosure activity increased slightly in South Dakota in November, reaching a level more than double what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Though unemployment within the state remains considerably low at 5 percent, the change in economy from one year ago indicates that the nation-wide recession is indeed taking a toll.”

 

One in every 3,308 South Dakota housing units received a foreclosure filing in November, the 44th highest foreclosure rate in the nation.

 

Minnehaha County posts state’s top foreclosure rate and total in November

Minnehaha County posted the highest county foreclosure rate in the state for November, with one in every 770 housing units receiving a foreclosure filing — 4.3 times the state average.  Jerauld County had the second highest foreclosure rate, with one in every 1,215 housing units receiving a foreclosure filing — 2.7 times the state average. Deuel County came in third highest, with one in every 2,311 housing units receiving a foreclosure filing — 1.4 times the state average.

 

Minnehaha County led state in total foreclosure filings for November

Minnehaha County also led all counties, totaling 95 properties with foreclosure filings for the month. Meade County had the second highest number of foreclosures, documenting four properties with foreclosure filings. Reporting two properties with foreclosure filings for the month, Brown and Pennington counties reported the third highest totals in the state.

 

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

South Dakota accounted for less than 1 percent of the 306,627 properties with foreclosure filings reported nationwide in November. Total U.S. activity declined nearly 8 percent from the previous month but was still 18 percent ahead of November 2008. One in every 417 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 – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

n/a

n/a

South Dakota

0

50

0

30

28

108

3,308

0.13

n/a

 

 

 

 

 

 

 

 

 

 

Minnehaha

0

50

0

27

18

95

770

0.54

4.29

Jerauld

0

0

0

0

1

1

1,215

0.34

2.72

Deuel

0

0

0

0

1

1

2,311

0.18

1.43

Meade

0

0

0

0

4

4

2,881

0.14

1.15

Fall River

0

0

0

0

1

1

3,999

0.10

0.83

 

 

South Dakota Top Foreclosure Totals by County – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 09

% Chg Nov 08

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

-7.72

18.35

South Dakota

0

50

0

30

28

108

3,308

2.86

140.00

 

 

 

 

 

 

 

 

 

 

Minnehaha

0

50

0

27

18

95

770

20.25

295.83

Meade

0

0

0

0

4

4

2,881

300.00

Brown

0

0

0

1

1

2

8,239

100.00

Pennington

0

0

0

1

1

2

21,104

-90.48

-71.43

 

 

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