SOUTH DAKOTA FORECLOSURES INCREASE 5 PERCENT IN JANUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Down 32 Percent From a Year Ago

 

IRVINE, Calif. – Feb. 25, 2007 – South Dakota documented 21 new foreclosure filings in January, a 5 percent increase from the previous month, but a 32 percent decrease from January 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 850,000 properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Although South Dakota foreclosures increased slightly in January, the numbers are down significantly from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that home sales throughout the state have decelerated at a slower pace than most others states, and that the unemployment rate is far below the national average. These factors are undoubtedly keeping foreclosures so low.”

 

South Dakota ranked among the five lowest states in total foreclosures for January. The state’s foreclosure rate of one new foreclosure filing for every 15,391 households ranked among the five lowest state foreclosure rates.

 

Two counties accounted for state total

Two counties accounted for all foreclosure filings in South Dakota for January. Minnehaha County led the state in total foreclosures, reporting 20 filings. Documenting one filing for the month, McCook County reported the second highest total.

 

Highest foreclosure rate found in McCook County

McCook County documented the highest foreclosure rate in South Dakota for January, with one new foreclosure filing for every 2,383 households — 6.5 times the state average. Minnehaha County registered the second highest rate, with one new foreclosure filing for every 3,012 households — 5.1 times the state average.

 

State contributes less than 1 percent to national total

South Dakota accounted for less than 1 percent of the 130,511 foreclosure filings nationwide in January. The national total represents a 19 percent increase in activity from the 109,652 foreclosure filings reported in December. The nation’s foreclosure rate increased to one new foreclosure filing for every 886 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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).

 

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

 

 

                       South Dakota Foreclosure Market by County – January 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,317

52,326

6,983

19,980

23,905

130,511

886

n/a

n/a

South Dakota

0

21

0

0

0

21

15,391

0.06

n/a

 

 

 

 

 

 

 

 

 

 

Lincoln

0

0

0

0

0

0

 

0.00

0.00

Mccook

0

1

0

0

0

1

2,383

0.37

6.46

Meade

0

0

0

0

0

0

 

0.00

0.00

Minnehaha

0

20

0

0

0

20

3,012

0.29

5.11

Pennington

0

0

0

0

0

0

 

0.00

0.00

Union

0

0

0

0

0

0

 

0.00

0.00

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new construction properties, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit www.realtytrac.com.

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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