South Carolina’s foreclosure rate continues to decrease
Foreclosure activity slowed in South Carolina, but The Palmetto State is still outpacing the national average, according to a report released today.
In February, 3 percent of South Carolina homes were in some stage of foreclosure, down 0.8 percent from a year ago, but the month’s tally was slightly higher than national average of 2.8 percent, according to CoreLogic, a national real estate analysis firm.
About 1.2 million homes were in some stage of foreclosure in the nation in February, less than 1.5 million for the month a year ago, according to the report.
“We continue to see a declining trend in foreclosure activity, with major markets leading the way,” said Anand Nallathambi, president and CEO of CoreLogic. “The drop in delinquencies and foreclosure starts will help support a resurgence in the home purchase market this year and next.”
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