South Dakota Reports More Than 200 Properties With Foreclosure Filings in First Half of 2009

Statewide foreclosure activity up 5 percent from previous six months

Foreclosure filings increase 67 percent in Q2; Rise 197 percent in June

 

South Dakota reported 256 properties with foreclosure filings throughout the first six months of 2009, a 5 percent increase from the previous six months and 59 percent ahead of the first half of 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

The Mount Rushmore State reported 160 properties with foreclosure filings for the second quarter of the year, a 67 percent increase from the previous quarter and 72 percent ahead of the total reported for the same quarter last year. For June, the state reported 113 properties with foreclosure filings, up 197 percent from the previous month and a 290 percent decrease from June 2008.

 

“Although South Dakota foreclosures spiked in June, it still holds one of the lowest foreclosure totals so far this year,” said James J. Saccacio, chief executive officer of RealtyTrac. “South Dakota continues to report one of the lowest unemployment rates in the country — nearly 5 percent below the national average. This is definitely keeping foreclosures lower here than most states.”

 

South Dakota ranked 48th in the country in total foreclosures reported for the first six months of 2009. With one in every 1,395 housing units receiving a foreclosure filing, its foreclosure rate ranked 47th among the 50 states.

 

Minnehaha County leads in midyear foreclosure filings

Minnehaha County accounted for 89 percent of South Dakota’s foreclosure activity for the first half of 2009, where 228 properties with foreclosure filings were reported. Pennington County came in second highest, reporting 10 properties with foreclosure filings halfway through the year. Lincoln County was third highest, documenting seven properties with foreclosure filings.

 

Minnehaha County dominates in midyear foreclosure rate rankings

Minnehaha County had the highest foreclosure rate, with one in every 321 housing units receiving a foreclosure filing during the first six months of 2009. Hanson County was second, with one in every 625 housing units receiving a foreclosure filing during the period. Sanborn County had the third highest foreclosure rate, with one in every 1,267 housing units receiving a foreclosure filing. Lincoln County was fourth, with one in every 1,678 housing units receiving a foreclosure filing, followed by fifth place Hutchinson County, where one in every 3,586 housing units received a foreclosure filing during the six month period.

 

State contributes less than 1 percent to nation’s foreclosure total through midyear South Dakota accounted for less than 1 percent of the 1,528,364 properties with foreclosure filings reported nationwide halfway through 2009. The national total represented a greater than 9 percent increase in activity from the previous six month period and was almost 15 percent ahead of the total reported for the first half of 2008. One in every 84 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

       January – June 2009

 

County Name

Total Properties with FC Filings

% Housing Units

1/every X HU (rate)

% Chg From Jul-Dec 08

% Chg From Jan-Jun  08

 

 

 

 

 

 

United States

1,528,364

1.195

84

9.46

14.66

South Dakota

256

0.07

1,395

4.92

59.01

 

 

 

 

 

 

Aurora

0

0.00

 n/a

 n/a

 n/a

Beadle

0

0.00

 n/a

 n/a

-100.00

Bennett

0

0.00

 n/a

 n/a

 n/a

Bon Homme

0

0.00

 n/a

-100.00

 n/a

Brookings

1

0.01

12,839

0.00

0.00

Brown

0

0.00

 n/a

-100.00

 n/a

Brule

0

0.00

 n/a

 n/a

 n/a

Buffalo

0

0.00

 n/a

 n/a

 n/a

Butte

0

0.00

 n/a

 n/a

 n/a

Campbell

0

0.00

 n/a

 n/a

 n/a

Charles Mix

0

0.00

 n/a

 n/a

 n/a

Clark

0

0.00

 n/a

 n/a

-100.00

Clay

0

0.00

 n/a

-100.00

-100.00

Codington

1

0.01

12,170

-75.00

0.00

Corson

0

0.00

 n/a

 n/a

 n/a

Custer

0

0.00

 n/a

-100.00

 n/a

Davison

1

0.01

8,678

0.00

0.00

Day

0

0.00

 n/a

 n/a

 n/a

Deuel

0

0.00

 n/a

 n/a

 n/a

Dewey

0

0.00

 n/a

 n/a

 n/a

Douglas

0

0.00

 n/a

 n/a

 n/a

Edmunds

0

0.00

 n/a

 n/a

 n/a

Fall River

0

0.00

 n/a

-100.00

 n/a

Faulk

0

0.00

 n/a

 n/a

 n/a

Grant

0

0.00

 n/a

 n/a

 n/a

Gregory

0

0.00

 n/a

 n/a

 n/a

Haakon

0

0.00

 n/a

 n/a

 n/a

Hamlin

0

0.00

 n/a

 n/a

 n/a

Hand

0

0.00

 n/a

 n/a

 n/a

Hanson

2

0.16

625

 n/a

 n/a

Harding

0

0.00

 n/a

 n/a

 n/a

Hughes

1

0.01

7,428

0.00

 n/a

Hutchinson

1

0.03

3,586

 n/a

 n/a

Hyde

0

0.00

 n/a

 n/a

 n/a

Jackson

0

0.00

 n/a

 n/a

 n/a

Jerauld

0

0.00

 n/a

 n/a

 n/a

Jones

0

0.00

 n/a

 n/a

 n/a

Kingsbury

0

0.00

 n/a

-100.00

 n/a

Lake

0

0.00

 n/a

-100.00

 n/a

Lawrence

0

0.00

 n/a

-100.00

 n/a

Lincoln

7

0.06

1,678

16.67

600.00

Lyman

0

0.00

 n/a

 n/a

 n/a

Marshall

0

0.00

 n/a

 n/a

 n/a

McCook

0

0.00

 n/a

 n/a

-100.00

McPherson

0

0.00

 n/a

 n/a

 n/a

Meade

1

0.01

11,523

-75.00

-50.00

Mellette

0

0.00

 n/a

 n/a

 n/a

Miner

0

0.00

 n/a

 n/a

 n/a

Minnehaha

228

0.31

321

21.28

65.22

Moody

0

0.00

 n/a

-100.00

 n/a

Pennington

10

0.02

4,221

-47.37

150.00

Perkins

0

0.00

 n/a

 n/a

 n/a

Potter

0

0.00

 n/a

 n/a

 n/a

Roberts

0

0.00

 n/a

-100.00

 n/a

Sanborn

1

0.08

1,267

0.00

 n/a

Shannon

0

0.00

 n/a

 n/a

 n/a

Spink

0

0.00

 n/a

 n/a

 n/a

Stanley

0

0.00

 n/a

 n/a

-100.00

Sully

0

0.00

 n/a

 n/a

-100.00

Todd

0

0.00

 n/a

 n/a

 n/a

Tripp

0

0.00

 n/a

 n/a

 n/a

Turner

0

0.00

 n/a

-100.00

-100.00

Union

0

0.00

 n/a

-100.00

-100.00

Walworth

0

0.00

 n/a

 n/a

 n/a

Yankton

2

0.02

4,724

0.00

 n/a

Ziebach

0

0.00

 n/a

 n/a

 n/a

              

  

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