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South Dakota one of lowest foreclosure states

By Northern Plains News

South and North Dakota are among the states with the lowest percentage of homes in foreclosure, according to a new report.

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Only 0.7 percent of homes in North Dakota were in foreclosure and 0.8 percent in South Dakota. Only sister Plains states Wyoming and Nebraska was lower, at 0.4 and 0.6 percent for October 2013, respectively, along with Alaska at 0.6 percent. Colorado was tied with North Dakota at 0.7 percent.

Report author CoreLogic notes that completed foreclosures are an indication of the total number of homes actually lost to foreclosure. Since the financial crisis began in September 2008, there have been approximately 4.6 million completed foreclosures across the country.

The company also notes there were 48,000 completed foreclosures in the U.S. in October 2013, down from 68,000 in October 2012, a year-over-year decrease of 30 percent.

On a month-over-month basis, completed foreclosures decreased 25.6 percent, from 64,000 reported in September.

Prior to the decline in the housing market in 2007, according to CoreLogic, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006.

Foreclosures were also down slightly month-to-month in the Dakotas, according to the report.