Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Kristen Leigh Painter.

Minnesota foreclosures last year at lowest level since 2007

Posted by: Jim Buchta under Foreclosures Updated: February 22, 2012 - 5:17 PM

Home foreclosures in MN fell 17 percent last year to the lowest level since 2007, but there are still a dangerously high number of people who are losing their homes across the state. The problem has become particularly acute in several counties surrounding the metro area, and continues to get worse in places where the economy isn’t improving.

In Minnesota there were there were 21,298 sheriffs sales, according to a report commissioned by the Minnesota Homeownership Center. That’s an average of 1.18 percent of all households across the state, but the rate ranged from a low of .04 percent in Kittson County to a high of 2.3 percent in Isanti County.

Ed Nelson, communications manager for the Homeownership Center, said it a “good news/bad news” story. “Overall we are trending in right direction,” he said. “But we are certainly not out of the woods yet.”

Annual Foreclosures in MN YrEnd2011 (2)

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