The Minnesota Home Ownership Center released their quarterly preforeclosure notice data and the new is overall very good.
Preforeclosure notices did tick up in the Twin Cities in Q1 2013 however the level remains less than half of what it was in the peak of the housing crisis. Q4 2012 might have been a blip due to the holiday season. We’ll have to see what happens in the current quarter but my belief is that the preforeclosure levels will continue to trend lower as we see the economy improve and fewer loans becoming delinquent.
The statewide numbers trend similarly to the Twin Cities. I feel these numbers will continue to trend lower over time as well.
