Minnesota Foreclosure Activity Rises in October

Statewide filings up 15 percent  from September

Foreclosure filings — default  notices, scheduled auctions and bank repossessions — were reported on 3,057 Minnesota  properties in October, a 15 percent increase from September and up fractionally  from the level reported for October 2010, according  to the latest RealtyTrac® U.S. Foreclosure Market Report.

Minnesota had the 18th highest foreclosure  rate in the nation, reporting one in every 763 housing units with a foreclosure  filing in October.

Anoka County posts top foreclosure rate in the  state for October
  One in every 289 housing units in Anoka County  had a foreclosure filing in October — two times the national average and 2.6  times the state average — the highest foreclosure rate of all Minnesota counties for the month. Wright County  had the second highest rate of one in every 296 housing units with a  foreclosure filing during the month — 1.9 times the national average and 2.6  times the state average. Washington County had the third highest rate of one in  every 374 housing units with a foreclosure filing during the month — 1.5 times  the national average and two times the state average.

Hennepin County has state’s highest foreclosure  total in October
  Hennepin County had the highest level of foreclosure activity in  the state, reporting 1,097 properties with foreclosure filings for the month. Anoka  County was second highest, reporting 434 properties with foreclosure filings. Ramsey  County was third, reporting 325 properties with foreclosure filings. Fourth  highest was Washington County, recording 243 properties with foreclosure  filings. Dakota County was fifth highest, tallying 177 properties with  foreclosure filings for the month.

State a minor contributor to total foreclosure  activity in October
  Minnesota accounted for 1 percent of the 230,678  properties with foreclosure filings reported nationwide in October. Total U.S. activity  increased by more than 7 percent from September, but was down nearly 31 percent  from the level reported in October 2010. One in every 563 U.S. housing units received  a foreclosure filing during the month.

“The October foreclosure numbers continue to show strong signs that  foreclosure activity is coming out of the rain delay we’ve been in for the past  year as lenders corrected foreclosure paperwork and processing problems,” said  James Saccacio, chief executive officer of RealtyTrac. “However, recent state  court rulings and new state laws keep changing the rules of the foreclosure  game on the fly, creating more uncertainty in the housing market and  threatening to prolong the road to a robust real estate recovery.”

 

Minnesota Top Foreclosure Rates By County – October 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

n/a

n/a

Minnesota

24

0

1,678

0

1,355

3,057

763

0.74

n/a

 

 

 

 

 

 

 

 

 

 

Anoka

0

0

238

0

196

434

289

1.95

2.64

Wright

0

0

91

0

74

165

296

1.90

2.58

Washington

0

0

131

0

112

243

374

1.51

2.04

Hennepin

0

0

702

0

395

1,097

461

1.22

1.66

Ramsey

0

0

230

0

95

325

663

0.85

1.15

 Minnesota Top Foreclosure Totals by County – October 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sep 11

% Chg Oct 10

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

7.36

-30.55

Minnesota

24

0

1,678

0

1,355

3,057

763

15.01

0.13

 

 

 

 

 

 

 

 

 

 

Hennepin

0

0

702

0

395

1,097

461

12.74

-1.35

Anoka

0

0

238

0

196

434

289

41.83

-11.25

Ramsey

0

0

230

0

95

325

663

108.33

-25.29

Washington

0

0

131

0

112

243

374

10.96

31.35

Dakota

0

0

66

0

111

177

888

-19.18

15.69

 

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