South Dakota Foreclosure Activity Up in February

Statewide filings increase 850 percent from January; Up 316 percent from February 2009

 

Foreclosure activity in South Dakota increased in February to 133 properties with foreclosure filings, up 850 percent from the previous month and 316 percent above the level reported in February 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Although South Dakota foreclosures were up in February, they are still among the nation’s lowest,” said James J. Saccacio, chief executive officer of RealtyTrac. “The biggest increase was in auctions, which rose 638 percent for the month. With one of the lowest unemployment rates in the country and home price appreciation that is still in the positive, it is likely that foreclosures here will remain relatively low.”

 

South Dakota ranked 46th in the country in total foreclosures reported for the month. With one in every 2,718 housing units receiving a foreclosure filing, its foreclosure rate ranked 43rd among the 50 states.

 

Minnehaha County posts top foreclosure rate in the state for February

Minnehaha County posted the state’s highest county foreclosure rate in February, with one in every 634 housing units receiving a foreclosure filing — 4.3 times the state average. Deuel County was second, with one in every 2,317 housing units receiving a foreclosure filing. Grant County came in third highest, with one in every 3,621 housing units receiving a foreclosure filing.

 

Minnehaha County also reports highest number in total foreclosures in February

Minnehaha County also led the way in total foreclosures for the state, reporting 118 properties with foreclosure filings for the month. Pennington County was second, documenting eight properties with foreclosure filings.

 

State contributes less than 1 percent to nation’s month foreclosure total

South Dakota accounted for less than 1 percent of the 308,524 properties with foreclosure filings reported nationwide in February. Total U.S. activity declined more than 2 percent from the previous month but was still 6 percent ahead of February 2009. One in every 418 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: DefaultNotice 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 – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

n/a

n/a

South Dakota

0

43

0

59

31

133

2,718

0.15

n/a

 

 

 

 

 

 

 

 

 

 

Minnehaha

0

43

0

55

20

118

634

0.66

4.28

Deuel

0

0

0

0

1

1

2,317

0.18

1.17

Grant

0

0

0

0

1

1

3,621

0.21

0.75

Turner

0

0

0

0

1

1

4,051

0.10

0.68

Pennington

0

0

0

3

5

8

5,371

0.08

0.51

 

 

 

South Dakota Top Foreclosure Totals by County – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

% Chg

Jan 10

% Chg

Feb 09

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

-2.28

6.22

South Dakota

0

43

0

59

31

133

2,718

850.00

315.63

 

 

 

 

 

 

 

 

 

 

Minnehaha

0

43

0

55

20

118

634

11,700.00

337.04

Pennington

0

0

0

3

5

8

5,371

0.00

700.00

 

 

 

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved