By Andy Owens
aowens@scbiznews.com
Published Nov. 12, 2009

Data released this morning from a national real estate tracking firm show that foreclosures increased by double digits in the Charleston region in October but that, for its part, Charleston County saw a decline.

RealtyTrac, which issues monthly reports on national, state and local foreclosure numbers, reported that South Carolina showed a 10.58% overall decline in foreclosure activity. The tri-county region saw a 17% increase in foreclosures from September to October.

A county-by-county breakdown, however, shows that Charleston County posted a 15.57% decrease in foreclosure activity. Berkeley County, with a 28.3% increase, and Dorchester County, with a 137.50% increase, accounted for the increase.

The actual numbers in Berkeley and Dorchester counties were smaller than those in Charleston County.

Nationally, foreclosure activity was down 3%, representing the third-straight month of declines in foreclosures. The usual suspects of Nevada, California and Florida showed the highest number of homes in distress.

“Three consecutive monthly declines is unprecedented for our report, and on first blush an indication that the foreclosure tide may be turning,” said RealtyTrac CEO James J. Saccacio. “However, the fundamental forces driving foreclosure activity in this housing downturn — high-risk mortgages, negative equity, and unemployment — continue to loom over any nascent recovery.”

Saccacio said year-to-year foreclosure numbers are substantially higher in most states even despite efforts to help homeowners avoid defaulting on their mortgages.

Foreclosures for October 2009

Source: RealtyTrac.com