SIOUX FALLS, S.D. (AP) - The head of the South Dakota Bankers
Association says recent real estate mortgage data indicates that
the state is on the verge of starting to bring down its foreclosure
rate.
Real estate research firm CoreLogic says the rate of South
Dakota foreclosures among outstanding mortgage loans rose to 1.4
percent in September, but the mortgage delinquency rate dropped to
2.63 percent.
Association president Curt Everson says one follows the other,
and he believes that with employment picking up in South Dakota,
the foreclosure rate will begin to decline as well.
Realtors Association of the Sioux Empire President Matt Larson
says employment and attitude drives the housing market, and both
have been good in the Sioux Falls area. He says the housing market
recovery might be slow, but it is there.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
AP-NY-12-09-11 0526EST
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