South Carolina Foreclosure Activity Rises in November

Statewide filings up 10 percent from October

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 4,028 South Carolina properties in November, a 10 percent increase from October and 4 percent above the level reported for November 2010, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

South Carolina had the tenth highest foreclosure rate in the nation, reporting one in every 517 housing units with a foreclosure filing in November — 1.1 times the national average.

Beaufort County posts top foreclosure rate in the state for November
 One in every 339 housing units in Beaufort County had a foreclosure filing in November — 1.7 times the national average and 1.5 times the state average — the highest foreclosure rate of all South Carolina counties for the month. Lexington County had the second highest rate of one in every 349 housing units with a foreclosure filing during the month — 1.7 times the national average and 1.5 times the state average. Dorchester County had the third highest rate of one in every 351 housing units with a foreclosure filing during the month — 1.7 times the national average and 1.5 times the state average.

Greenville County has highest foreclosure total in November
 Greenville County tallied the highest level of foreclosure activity in the state, reporting 501 properties with foreclosure filings for the month. Horry County had the second highest total, reporting 493 properties with foreclosure filings. Richland County was third, reporting 378 properties with foreclosure filings. Fourth highest was Lexington County, recording 310 properties with foreclosure filings. Charleston County was fifth highest, tallying 264 properties with foreclosure filings for the month.

State a moderate contributor to total foreclosure activity in November
 South Carolina accounted for 2 percent of the 224,394 properties with foreclosure filings reported nationwide in November. Total U.S. activity decreased by 3 percent from October and was down over 14 percent from the level reported in November 2010. One in every 579 U.S. housing units received a foreclosure filing during the month.

“Despite a seasonal slowdown similar to what we’ve seen in each of the past four years, November’s numbers suggest a new set of incoming foreclosure waves, many of which may roll into the market as REOs or short sales sometime early next year,” said James Saccacio, co-founder of RealtyTrac. “Overall foreclosure activity is down 14 percent from a year ago, the smallest annual decrease over the past 12 months, and some bellwether states such as California, Ohio and Massachusetts actually posted year-over-year increases in foreclosure activity in November.

“Scheduled foreclosure auctions reached a nine-month high in November, corresponding to a recent surge in default notices that began back in August,” Saccacio continued. “Many of the new defaults that started the foreclosure process over the past few months are now being scheduled for public foreclosure auction.”

 

South Carolina Top Foreclosure Rates By County – November2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

37,397

34,333

74,100

22,440

56,124

224,394

579

n/a

n/a

South Carolina

0

2,724

0

761

543

4,028

517

1.12

n/a

 

 

 

 

 

 

 

 

 

 

Beaufort

0

170

0

34

45

249

339

1.71

1.52

Lexington

0

182

0

59

69

310

349

1.66

1.48

Dorchester

0

93

0

34

13

140

351

1.65

1.47

York

0

189

0

53

16

258

353

1.64

1.47

Horry

0

350

0

92

51

493

356

1.63

1.45

South Carolina Top Foreclosure Totals by County – November2011 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 11

% Chg Nov 10

 

 

 

 

 

 

 

 

 

 

United States

37,397

34,333

74,100

22,440

56,124

224,394

579

-2.72

-14.46

South Carolina

0

2,724

0

761

543

4,028

517

10.30

3.92

 

 

 

 

 

 

 

 

 

 

Greenville

0

359

0

112

30

501

384

26.84

-6.00

Horry

0

350

0

92

51

493

356

33.60

28.39

Richland

0

141

0

93

144

378

420

18.13

112.36

Lexington

0

182

0

59

69

310

349

63.16

22.53

Charleston

0

231

0

1

32

264

663

-33.16

-50.28

 

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