Foreclosure activity increased nearly 30% in South Carolina compared to June 2011, according to data released by RealtyTrac. Nationwide, foreclosure activity decreased on a year-over-year basis for the 21st consecutive month in June.
By Lauren Ratcliffe
Published July 12, 2012
While foreclosure activity nationwide decreased on a year-over-year basis for the 21st consecutive month in June, South Carolina reported an increase in foreclosures, according to data released by RealtyTrac, a nationwide foreclosure tracking firm.
Nationally, one in every 666 homes is under some form of foreclosure; in South Carolina one in every 581 homes is under foreclosure.
South Carolina’s foreclosure activity increased 29% from June 2011.
Despite the continued decrease in overall activity nationwide, foreclosure starts increased annually for the second straight month, RealtyTrac said.
“Additional scrutiny on how lenders and servicers process foreclosures, along with aggressive foreclosure prevention efforts by the federal government and several state governments, continue to keep a lid on the foreclosure problem at a national level,” said Brandon Moore, CEO of RealtyTrac.
Number of Foreclosures
Rate of Foreclosure
1 in 581