Horry County officials met Wednesday to review a breakdown by zip code of how the area looks when it comes to foreclosures.
The county's Affordable Workforce Housing Commission says home foreclosures are the highest in the 29579 zip code of Horry County, which includes Carolina Forest and Forestbrook. Little River is the second highest area. The Grand Strand housing market is unique when it comes to foreclosures though.
Many of the homes foreclosed on are second homes, vacation or rental properties. While it is still a loss for the homeowner, no one is being left homeless in those cases, Horry County principal planner Roy Taylor.
"So the burden is really been on the beach municipalities. In particular, Myrtle Beach has taken more hits historically with foreclosures," Taylor says.
The construction market relies heavily on the second home market across the Grand Strand Taylor says. Which does seems to be a bit on the bounce back.
Realtytrac, a group that follows residential foreclosure data across the country, released new numbers last week showing South Carolina foreclosures are down more than 10 percent compared to a year ago.
In Myrtle Beach, foreclosures were down 8.14 percent from 2010, and down 42.33 percent from 2009, when the housing market really tanked.
The top foreclosure cites are Las Vegas, Phoenix, Chicago, Los Angeles, and Houston.
A total of 63,165 properties across the country received default notices.
