SC still ranks in the Top 10 in US housing foreclosures

Foreclosures on U.S. housing units continue to decline, falling to a nearly 10-year low in January, according to real estate data company RealtyTrac.

Last month, there were 95,186 homes with a foreclosure filing — notice of default, scheduled auction or bank repossession — down 8% from December 2015 and down 11% from January 2015.

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Much of the foreclosure activity is concentrated at the end of the process (bank repossession), with completed foreclosures up 32% from the same time last year.

Completed foreclosures (which RealtyTrac uses interchangeably with bank repossessions, or REOs), have increased year-over-year for 7 months in a row.

Meanwhile, foreclosure starts (notices of default) were down 18% from January 2015.

Foreclosure starts have decreased year-over-year for 7 straight months, as well, and are at pre-recession levels, according to RealtyTrac.