MINNESOTA FORECLOSURES DECREASE 13 PERCENT IN JUNE

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 78 Percent From June 2006

 

IRVINE, Calif. – July 31, 2007 – Minnesota reported 967 foreclosure filings in June, a 13 percent decrease from the previous month, but still 78 percent above the number reported in June 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Though Minnesota continues to be plagued with foreclosure activity, especially as compared to this time last year, the state’s foreclosure rate is still below the national average,” said James J. Saccacio, chief executive officer of RealtyTrac. “Employment in Minnesota is up, however, most of this growth remains in the lower wage sectors.”

 

Minnesota ranked 24th in the country in total foreclosures reported for June. The state’s foreclosure rate of one foreclosure filing for every 2,136 households ranked it 29th among the 50 states.

 

Hennepin County leads state in foreclosure activity

Hennepin County led the state in foreclosure activity for June, reporting 591 foreclosure filings. Dakota County reported the second highest county total with 137 foreclosure filings. Saint Louis and Wright counties came in third each reporting 36 foreclosure filings for the month.

 

Hennepin County posts highest foreclosure rate

Hennepin County posted the highest foreclosure rate in the state, with one foreclosure filing for every 793 households — 2.7 times the state average. Wright County posted the second highest foreclosure rate in the state, with one foreclosure filing for every 954 households — 2.2 times the state average. Scott County posted the third highest foreclosure rate, with one foreclosure filing for every 958 households — 2.2 times the state average.

 

State a minor contributor to national total

Total foreclosure filings in Minnesota accounted for less than 1 percent of the 164,644 foreclosure filings nationwide in June. The national total was down 7 percent from the previous month but still up 87 percent from June 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 704 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                Minnesota Foreclosure Market by County – June 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,048

51,492

12,488

38,247

26,369

164,644

704

n/a

n/a

Minnesota

11

709

0

0

247

967

2,136

0.33

n/a

 

 

 

 

 

 

 

 

 

 

Aitkin

0

0

0

0

0

0

n/a

0.00

0.00

Anoka

0

12

0

0

3

15

7,206

0.10

0.30

Becker

0

0

0

0

0

0

n/a

0.00

0.00

Beltrami

0

0

0

0

1

1

16,989

0.04

0.13

Benton

0

2

0

0

0

2

6,730

0.10

0.32

Big Stone

0

0

0

0

0

0

n/a

0.00

0.00

Blue Earth

0

2

0

0

1

3

7,324

0.10

0.29

Brown

0

0

0

0

1

1

11,163

0.06

0.19

Carlton

0

1

0

0

0

1

13,721

0.05

0.16

Carver

1

0

0

0

6

7

3,555

0.20

0.60

Cass

0

0

0

0

0

0

n/a

0.00

0.00

Chisago

0

1

0

0

1

2

7,767

0.09

0.28

Clay

1

3

0

0

3

7

2,821

0.25

0.76

Crow Wing

0

1

0

0

0

1

33,483

0.02

0.06

Dakota

1

69

0

0

67

137

976

0.72

2.19

Dodge

0

1

0

0

0

1

6,642

0.11

0.32

Douglas

0

1

0

0

3

4

4,174

0.17

0.51

Faribault

0

2

0

0

1

3

2,416

0.29

0.88

Fillmore

0

0

0

0

1

1

8,908

0.08

0.24

Goodhue

0

1

0

0

1

2

8,949

0.08

0.24

Hennepin

2

563

0

0

26

591

793

0.89

2.69

Houston

0

0

0

0

0

0

n/a

0.00

0.00

Hubbard

0

0

0

0

1

1

12,229

0.06

0.17

Isanti

0

0

0

0

1

1

12,062

0.06

0.18

Itasca

0

0

0

0

0

0

n/a

0.00

0.00

Kanabec

0

1

0

0

0

1

6,846

0.10

0.31

Kandiyohi

0

1

0

0

3

4

4,604

0.15

0.46

Kittson

0

0

0

0

0

0

n/a

0.00

0.00

Koochiching

0

0

0

0

1

1

7,719

0.09

0.28

Le Sueur

0

1

0

0

0

1

10,858

0.06

0.20

Lincoln

0

0

0

0

1

1

4,043

0.17

0.53

Martin

0

0

0

0

10

10

980

0.72

2.18

McLeod

0

0

0

0

1

1

14,087

0.05

0.15

Mille Lacs

0

2

0

0

0

2

5,234

0.13

0.41

Mower

0

1

0

0

0

1

16,251

0.04

0.13

Murray

0

1

0

0

1

2

2,179

0.32

0.98

Nicollet

0

0

0

0

0

0

n/a

0.00

0.00

Norman

0

0

0

0

0

0

n/a

0.00

0.00

Olmsted

0

3

0

0

0

3

16,474

0.04

0.13

Otter Tail

0

1

0

0

3

4

8,466

0.08

0.25

Pine

0

2

0

0

0

2

7,677

0.09

0.28

Ramsey

1

8

0

0

19

28

7,373

0.10

0.29

Redwood

0

0

0

0

1

1

7,230

0.10

0.30

Rice

0

0

0

0

2

2

10,031

0.07

0.21

Saint Louis

1

16

0

0

19

36

2,661

0.26

0.80

Scott

0

3

0

0

30

33

958

0.73

2.23

Sherburne

1

2

0

0

5

8

2,853

0.25

0.75

Stearns

0

0

0

0

2

2

25,146

0.03

0.08

Steele

0

0

0

0

0

0

n/a

0.00

0.00

Wabasha

0

0

0

0

1

1

9,066

0.08

0.24

Wadena

0

1

0

0

0

1

6,334

0.11

0.34

Washington

0

5

0

0

0

5

14,727

0.05

0.15

Wilkin

0

0

0

0

0

0

n/a

0.00

0.00

Winona

0

0

0

0

0

0

n/a

0.00

0.00

Wright

3

2

0

0

31

36

954

0.74

2.24

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved