South Carolina ranks 39th in foreclosures
... and that's good.
According to the largest publisher of foreclosure data, RealtyTrac, click to see all the foreclosure statistics, South Carolina ranks 39th among all the states in foreclosure activity.
South Carolina
Total foreclosure filings 5038
Change from 2006 -27.56%
Change from 2005 -33.76%
Total Properties with filings 4247
% Households (foreclosure rate) 0.220%
Please note: The total foreclosure filings would be higher than the number of properties with filings because a first and a second mortgage would count as 2 foreclosure filings.
United States
Total foreclosure filings 2,203,295
Change from 2006 +74.99%
Change from 2005 +148.83%
Total Properties with filings 1,285,873
% Households (foreclosure rate) 1.033%
A couple of points. South Carolina foreclosure rates have not increased from either 2005 or 2006 but most surprisingly, have actually declined. While one foreclosure is bad and 2+ million is worse, only 1% of households in the United States are in foreclosure activity which means 99% of all households are not in foreclosure.
The 10 states with the highest foreclosure rates include several former real estate hot spots along with the economically troubled Midwest. In order, Nevada, Florida, Michigan, California, Colorado, Ohio, Georgia, Arizona, Illinois and Indiana.