While the number of South Carolina homes in foreclosure remains high, foreclosure filings across the state declined significantly. There are 1,361,795 homes at some stage of the foreclosure process nationally. That is down 26 percent from a year ago and 53 percent less than the 2.9 foreclosure filings in 2010, the highest number on record. South Carolina foreclosure filings are down 19.2 percent from last year, according to RealtyTrac's Year-End and December 2013 U.S. Foreclosure Market Report.
Daren Blomquist is vice president of RealtyTrac. Blomquist says, "Millions of homeowners are still living in the shadow of the massive
foreclosure crisis that the country experienced over the past eight years since
the housing price bubble burst - both in the form of homes lost to directly to
foreclosure as well as home equity lost as a result of a flood of discounted
distressed sales. But thenshadow cast by the foreclosure crisis is shrinking as fewer distressed properties enter foreclosure and properties already in foreclosure are poised to exit in greater numbers in 2014 given the greater numbers of scheduled foreclosure auctions in 2013 in judicial states - which account for the bulk of U.S. foreclosure inventory."
Florida has the most homes in foreclosure with a total of 306,018. California has about 8 percent of the nation's total inventory with 102,237. Georgia has about 4 percent with 47,765. The total foreclosure filings in South Carolina last year were 28,751. That is about one for every 74 homes.