| Foreclosures in South Dakota
Population:
46th largest U.S. State by population, with 812,383 people (2009 estimate). 17th largest state in the country by area, at 77,116 square miles.
Largest city: Sioux Falls
Median income:$46,032 (2008 estimate)
Climate:
Yearly rainfall: 17.5 inches per year
Yearly snowfall: 41 inches per year in Sioux Falls
Temperatures (High/Low) in capital city of Pierre:
January, 28/8; July, 89/62
Foreclosures:
Foreclosure activity for 2009 increased in South Dakota over the prior year. There was a total of 765 properties with filings. That works out to a rate of one filing for every 467 households, which compares to the United States average of 45, and is about one fifth of one percent of the state’s housing units.
Those figures represent a 90 percent increase over 2008 and a 3,087 percent increase over 2007.
In 2008 there were about 16,300 existing homes (including condos, co-ops, and single-family homes but excluding new homes) sold in South Dakota, compared to about 18,500 sold in 2007.
Economy:
South Dakota has one of the lowest gross state products in the country, but that's not so bad because it has some of the lowest population and unemployment rates to match. The state still relies heavily on agriculture as a major economic engine, though its efforts to diversify the economy have led to increasing corporate presence from companies like Citibank, which uses it as a base for its national operations. Tourism is strong in South Dakota, particularly in the Black Hills mountain region and Mount Rushmore.
Noteworthy: South Dakota has recently experienced a significant population redistribution away from its rural areas and toward its cities, which are growing as fast as its rural counties are shrinking.
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