South Carolina Foreclosure Activity Rises in October

Statewide filings up 36 percent  from September

Foreclosure filings — default  notices, scheduled auctions and bank repossessions — were reported on 3,625 South Carolina properties  in October, a 36 percent increase from September and 19 percent above the level  reported for October 2010, according to the  latest RealtyTrac® U.S. Foreclosure Market Report.

South Carolina had the 13th highest foreclosure  rate in the nation, reporting one in every 571 housing units with a foreclosure  filing in October.

Dorchester County posts top foreclosure rate in the  state for October
  One in every 284 housing units in Dorchester County  had a foreclosure filing in October — twice the national average and twice the  state average — the highest foreclosure rate of all South Carolina counties for the month. York County  had the second highest rate of one in every 319 housing units with a  foreclosure filing during the month — 1.8 times the national average and 1.8  times the state average. Berkeley County had the third highest rate of one in  every 337 housing units with a foreclosure filing during the month — 1.7 times  the national average and 1.7 times the the state average.

Charleston and Greenville counties have  highest foreclosure total in October
  Charleston and Greenville  counties tallied the highest level of foreclosure activity in the state, both reporting  395 properties with foreclosure filings for October. Horry County was third,  reporting 369 properties with foreclosure filings. Fourth highest was Richland County,  recording 320 properties with foreclosure filings. York County was fifth  highest, tallying 285 properties with foreclosure filings for the month.

State a moderate contributor to total foreclosure  activity in October
  South Carolina accounted for 2 percent of the 230,678  properties with foreclosure filings reported nationwide in October. Total U.S. activity  increased by more than 7 percent from September, but was down nearly 31 percent  from the level reported in October 2010. One in every 563 U.S. housing units received  a foreclosure filing during the month.

“The October foreclosure numbers continue to show strong signs that  foreclosure activity is coming out of the rain delay we’ve been in for the past  year as lenders corrected foreclosure paperwork and processing problems,” said  James Saccacio, chief executive officer of RealtyTrac. “However, recent state  court rulings and new state laws keep changing the rules of the foreclosure  game on the fly, creating more uncertainty in the housing market and  threatening to prolong the road to a robust real estate recovery.”

 

South Carolina Top Foreclosure Rates By County – October 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

n/a

n/a

South Carolina

0

2,413

0

543

696

3,652

571

0.99

n/a

 

 

 

 

 

 

 

 

 

 

Dorchester

0

103

0

35

35

173

284

1.98

2.01

York

0

169

0

58

58

285

319

1.77

1.79

Berkeley

0

127

0

53

24

204

337

1.67

1.69

Beaufort

0

171

0

27

52

250

338

1.67

1.69

Charleston

0

279

0

57

59

395

443

1.27

1.29

 South Carolina Top Foreclosure Totals by County – October 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sep 11

% Chg Oct 10

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

7.36

-30.55

South Carolina

0

2,413

0

543

696

3,652

571

35.76

19.04

 

 

 

 

 

 

 

 

 

 

Charleston

0

279

0

57

59

395

443

16.86

26.20

Greenville

0

273

0

76

46

395

487

89.00

-5.05

Horry

0

259

0

27

83

369

475

-42.97

-10.87

Richland

0

173

0

64

83

320

496

52.38

35.02

York

0

169

0

58

58

285

319

78.13

70.66

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