South Carolina March 2012 Foreclosure Report

According to RealtyTrac.com, there were 3,396 foreclosure notices (default notices, foreclosure action notices or bank repossessions) in South Carolina in March. That is 1 in every 629 housing units. That is a 25% decrease from the previous month; February saw 4,373 foreclosure notices, which was 1 in every 489 housing units.

We had a downward trend for a couple of months, but February saw a spike in foreclosure action and March is back on the downward trend. The Lowcountry’s real estate market and economy are improving; however, we still on the backend of the foreclosure crunch.

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Aaron