By Lauren Ratcliffe
lratcliffe@scbiznews.com
Published Dec. 15, 2011

Foreclosure activity nationwide showed a slight slowing in November with 224,394 homes showing some sort of distress. South Carolina’s figures were less optimistic, growing 10% over October and 3.9% over 2010.

Foreclosures in S.C.’s metropolitan statistical areas for November Metro Area Lowcountry Charleston Berkeley Dorchester Midlands Richland Lexington Calhoun Upstate Greenville Spartanburg Anderson State/Nation South Carolina United States Number of Filings 264 166 140 378 310 6 501 384 206 4,028 224,394 Rate of Foreclosure 1 in 663 1 in 414 1 in 351 1 in 420 1 in 349 1 in 1,244 1 in 384 1 in 585 1 in 408 1 in 517 1 in 579 Source: RealtyTrac

In South Carolina, 4,028 homes were reported as being in distress. According to data from national foreclosure research company RealtyTrac, one in every 517 properties in S.C. is under foreclosure.

Within the state, Greenville, Richland and Lexington counties had the highest number of homes in distress. Lexington and Dorchester counties had the highest rates of foreclosure.

RealtyTrac co-founder James Saccacio said the nationwide slowing in foreclosure numbers isn’t unusual, adding that there might be more bad news to come.

“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,” he said.

He said scheduled foreclosure auctions reached a nine-month high in November after a flurry of new default notices in August.

“Many of the new defaults that started the foreclosure process over the past few months are now being scheduled for public foreclosure auction,” Saccacio said.

Nevada had the highest foreclosure rate in the nation, despite being down 43% from its figures last year. One in every 175 Nevada homes is under foreclosure — that rate is more than three times the national average.

California and Arizona rounded out the top three states for foreclosures. Arizona foreclosure activity increased on a year-over-year basis in November for the first time since October 2010.

South Carolina ranked in the top 10 states for foreclosures for the first time since RealtyTrac started issuing reports in 2005 based on rate of foreclosures.

The 10 states with the highest foreclosure rates account for 72% of all foreclosures nationwide.