SOUTH DAKOTA FORECLOSURES INCREASE 33 PERCENT IN APRIL

Market Activity Down 9 Percent From a Year Ago

Minnehaha County Posts State’s Highest Foreclosure Rate

 

IRVINE, Calif. – May 31, 2006 – South Dakota reported 32 properties entering some stage of foreclosure in April, a 33 percent increase from the previous month but a 9 percent drop from the 35 foreclosures reported in April 2005, according to RealtyTrac’s April 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.

 

“Even with a recent hike in the number of foreclosures reported in South Dakota, the state’s foreclosure activity is still below the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Economic expansion is up in the state, with manufacturing growth seen as a bright spot.”

 

With one foreclosure filing for every 10,100 households (13 percent of the national average), South Dakota‘s foreclosure rate ranked 9th ninth lowest in the country. Overall, the state total accounted for less than 0.10 percent of the nation’s foreclosures, with 43 states reporting more foreclosures for the month.

 

Reporting 29 properties entering some stage of foreclosure, Minnehaha County accounted for the majority of the state’s foreclosure filings in April. The county’s foreclosure rate of one foreclosure filing for every 2,077 households was the highest in the state and 4.9 times the state average.

 

Nationwide a total of 91,168 properties entered some stage of foreclosure in April, a 10 percent decrease from the previous month but a 33 percent year-over-year increase from April 2005. This marked the second straight month of decreasing U.S. foreclosure activity. At one foreclosure filing for every 1,268 households, the national foreclosure rate for April was higher than for any month in 2005.

 

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).

 

                  South Dakota Foreclosure Market By County — April 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every #households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

U.S.

21,244

38,238

2,833

9,071

19,782

91,168

1,268

South Dakota

0

26

0

0

6

32

10,100

0.13

 

 

 

 

 

 

 

 

 

 

Davison

0

0

0

0

1

1

8,093

0.16

1.25

Fall River

0

0

0

0

1

1

3,812

0.33

2.65

Lincoln

0

0

0

0

0

0

 

0.00

0.00

Meade

0

0

0

0

0

0

 

0.00

0.00

Minnehaha

0

26

0

0

3

29

2,077

0.61

4.86

Pennington

0

0

0

0

0

0

 

0.00

0.00

Union

0

0

0

0

1

1

5,345

0.24

1.89

 

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, 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 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 AOL Real Estate, MSN Real Estate and Yahoo! Real Estate. For more information, visit www.realtytrac.com.

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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