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South Carolina foreclosure activity trends downward

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South Carolina’s foreclosure activity is improving, with 2,697 foreclosures filed in July—a 32.4% drop from one year ago. Per the Greenville News in S. Carolina:

July marked the fourth consecutive month that the Greenville-Mauldin-Easley metro area has experienced year-over-year decreases in foreclosures, according to Daren Blomquist, vice -president at RealtyTrac, an online marketplace for housing data.

Rising home prices, a low unemployment rate, a decline in the percentage of homeowners underwater, and an increase in home sales made by institutional investors and cash purchases all helped the Greenville area rank No. 11 — and Spartanburg No. 19 — among RealtyTrac’s first list of top 20 U.S. markets leading the housing recovery.

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