Minnesota Foreclosure Activity Declines in January

Statewide filings down 16 percent from December: Up 49 percent from a year ago

 

Foreclosure activity in Minnesota decreased in January to 2,813 properties with foreclosure filings, a 16 percent decline from December 2009, but still up 49 percent from January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Minnesota foreclosures were down in January,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decline was in auctions, which fell 22 percent. The state’s unemployment rate continues to remain well below the national average, and home sales increased dramatically during the fourth quarter. If these trends continue, we may see foreclosures fall even further here in the near future.”

 

Minnesota ranked 26th in the country in total foreclosures reported for the month. With one in every 829 housing units receiving a foreclosure filing, its foreclosure rate ranked 29th among the 50 states.

 

Goodhue County posts top foreclosure rate in the state for January

Goodhue County posted the state’s highest county foreclosure rate in January, with one in every 242 housing units receiving a foreclosure filing — 1.7 times the national average and 3.4 times the state average. Ramsey County was second, with one in every 393 housing units receiving a foreclosure filing — 2.1 times the state average. Anoka County came in third highest, with one in every 444 housing units receiving a foreclosure filing — 1.9 times the state average. Dakota County posted the fourth highest rate, where one in every 446 housing units received a foreclosure filing during the month — 1.9 times the state average. Wright County documented the fifth highest foreclosure rate, where one in every 558 housing units received a foreclosure filing during the — 1.5 times the state average month.

 

Hennepin County dominates state in total foreclosure filings for January

Hennepin County led all counties, totaling 847 properties with foreclosure filings for the month. Ramsey County was second highest, documenting 554 properties with foreclosure filings. Reporting 352 properties with foreclosure filings for the month, Dakota County had the third highest foreclosure total. Anoka County came in fourth highest, reporting 283 properties with foreclosure filings, followed by Washington County where 138 properties with foreclosure filings were reported.

 

State responsible for less than one percent of nation’s foreclosure total in January

Minnesota accounted for less than one percent of the 315,716 properties with foreclosure filings reported nationwide in January. Total U.S. activity declined nearly 10 percent from the previous month but was still 15 percent ahead of January 2009. One in every 409 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: DefaultNotice of Default (NOD) and Lis Pendens (LIS); Auction — 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). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

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

 

 

Minnesota Top Foreclosure Rates by County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

n/a

n/a

Minnesota

1

0

1,300

0

1,512

2,813

829

0.49

n/a

 

 

 

 

 

 

 

 

 

 

Goodhue

0

0

1

0

82

83

242

1.67

3.42

Ramsey

0

0

236

0

318

554

393

1.03

2.11

Anoka

0

0

159

0

124

283

444

0.91

1.87

Dakota

0

0

110

0

242

352

446

0.91

1.86

Wright

0

0

48

0

39

87

558

0.73

1.48

 

           

 

Minnesota Top Foreclosure Totals by County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Dec 09

% Chg Jan 09

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

-9.67

15.06

Minnesota

1

0

1,300

0

1,512

2,813

829

-15.70

49.15

 

 

 

 

 

 

 

 

 

 

Hennepin

0

0

466

0

381

847

600

-20.99

-19.10

Ramsey

0

0

236

0

318

554

393

34.79

241.98

Dakota

0

0

110

0

242

352

446

25.71

220.00

Anoka

0

0

159

0

124

283

444

-40.67

69.46

Washington

0

0

116

0

22

138

657

-34.60

762.50

 

 

 

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