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Minnesota Preforeclosure Notices Drop 25%

My friends at the Minnesota Home Ownership Center released an update to their preforeclosure stats today that show preforeclosure notices are down 25% from a year ago and 17% from last quarter:

This is great news at it signals even fewer foreclosures for Minnesota in the future.  Preforeclosure notices typically go out 2-6 months before a sheriff sale occurs.  Thus with this information, I can project out into 2013 and tell you that even fewer foreclosures will be for sale in the next 8-12 months than there are today.

While there are still a lot of homeowners behind in their payments and at risk of foreclosure, those numbers are declining as well.  Every area is responding a little different however so some communities have almost no foreclosures while others still have substantial numbers.

If you or someone you know is struggling to keep their home, please click through on the picture below to find out how you can get free help.


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TwinCitiesRealEstateBlog.com is not a Multiple Listing Service MLS, nor does it offer MLS access.
This website is a service of Aaron Dickinson of Edina Realty, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc.