South Carolina Leads in Home Foreclosures in February Amid Rising Living Costs
March 17, 2024
A recent Daily Mail report reveals a surge in home foreclosures across the US, with South Carolina bearing the brunt. Escalating interest rates and soaring living expenses are pushing many Americans into financial instability.
According to ATTOM, February saw 32,938 properties with foreclosure filings nationwide, marking an 8 percent increase from the previous year. South Carolina recorded the highest filings, with one for every 2,248 housing units.
The housing affordability crisis worsens as the average 30-year fixed-rate mortgage hits 6.74 percent, nearly double the rate from two years ago. Americans face nearly $1,000 more in monthly payments compared to before.
Foreclosure completion rates vary, with South Carolina experiencing a stark 51 percent surge, while other states like Georgia and New York saw declines. This underscores the urgent need for measures to address housing affordability in South Carolina and nationwide.
To view a list of foreclosure homes in Clinton click HERE and in Laurens click HERE.
For more information click HERE.
