South Carolina June 2012 Foreclosure Report

According to RealtyTrac.com, there were 3,681 foreclosure notices (default notices, foreclosure action notices or bank repossessions) in South Carolina in June. That is 1 in every 581 housing units. That is a slight decrease from the previous month; May saw 3,966 foreclosure notices, which was 1 in every 539 housing units.

We had a downward trend for a couple of months, but the May spike in foreclosure action is a concern. Hopefully June’s slight decrease in foreclosure activity will continue the downward trend. The Lowcountry’s real estate market and economy are improving; however, we still on the backend of the foreclosure crunch.

The average foreclosure sales price in SC was $115,638.

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Aaron