By Andy Owens
aowens@scbiznews.com
Published July 16, 2009

Greenville and Anderson counties both saw double-digit declines in the number of homes with foreclosure filings from the first quarter to the second quarter of 2009, according to numbers released this morning. Spartanburg County rose slightly with eight more foreclosures from Q1 to Q2.

The three Upstate counties had a total of 1,549 homes in foreclosure in the first quarter and 1,239 in Q2, pushing foreclosure numbers down by 20%.

The state saw 3.1% decrease in the number of homes with some type of foreclosure filing, going from 7,016 at the end of the first quarter to 6,799 at the end of the second quarter. Real estate tracking firm RealtyTrac released second quarter and six-month numbers for all 50 states this morning, which showed nearly an 11% increase across the country from quarter to quarter.

When compared to the second quarter of 2008, foreclosures were up significantly in South Carolina, RealtyTrac numbers show. Foreclosures checked in at 3,179 for Q2 in 2008.

Six month totals show that South Carolina had a 33.32% increase in foreclosures in the first half of 2009 compared to the first half of 2008. RealtyTrac data showed the Palmetto state had 13,145 homes with filing in mid-year 2009 compared to 9,860 in mid-year 2008. One out of every 154 homes in the state had a foreclosure filing against it in the first six months of 2009, compared to one out of 84 homes across the U.S.

All three counties in the South Carolina Lowcountry saw more than a 20% decrease. The Midlands didn’t fare so well, with only Newberry County showing a decrease and Lexington and Richland counties going up more than 121% from quarter to quarter.

In the tourist-centric Grand Strand area, Horry County saw an 11.6% increase, going from 676 in Q1 to 755 in Q2. Georgetown County saw an increase of just three homes in foreclosure between quarters, but fewer than 30 total for each quarter.

Darlington and Florence counties each saw a drop in foreclosures from each quarter with neither going above 30 total homes for the second quarter.

Nationally, foreclosures were up 10.7% when comparing the first quarter of 2009 to the second quarter of 2009. Nevada, Arizona and Florida posted the highest rates of foreclosure, and California, Florida and Arizona had the highest number of homes in foreclosure.

“Unemployment-related foreclosures account for much of this increased activity, and the high number of borrowers who find themselves owing more on their mortgages than their homes’ are now worth represent a potentially significant future risk,” said RealtyTrac CEO James J. Saccacio.

Saccacio said that stemming the tide of foreclosures is critical in stabilizing the housing market, and he urged the lending industry and the government work together to address the issue.

First and second quarter regional foreclosure numbers in the Upstate

Source: RealtyTrac.com