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 Janet Moore.

The foreclosure rate in the Twin Cities remains way below the national rate

Posted by: Jim Buchta under Foreclosures Updated: February 24, 2014 - 10:48 AM

I recently reported that foreclosure rates in Minnesota had fallen dramatically last year, this morning CoreLogic is out with a new report that compares the Twin Cities to the rest of the nation. The news is good. During December the foreclosure rate in the Twin Cities metro fell to 0.70 percent from 1.28 percent last year compared with 2.09 percent nationwide.

Mortgage delinquencies, loans that were 90 days or more late, represented 2.70 percent of all outstanding mortgages compared with 3.93 percent last year.

Experts have largely attributed the gains to a lower unemployment rate, rising home prices and an increase in efforts to help struggling homeowners. While the news is good, foreclosure rates are still way above the national average, but expected to return to more normal levels in just a few years.

- Jim Buchta

ADVERTISEMENT

Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT

Advertisement
Golden Gavel by Star Tribune

Time left for great deals

Bid thru Sept. 29

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT