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Twin Cities Preforeclosure Activity Remains Sharply Lower

The Minnesota Home Ownership Center released their quarterly preforeclosure notice data and the new is overall very good.

Preforeclosures in the Twin Cities

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.

Preforeclosures in Minnesota

The statewide numbers trend similarly to the Twin Cities.  I feel these numbers will continue to trend lower over time as well.

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This website is a service of Aaron Dickinson of Edina Realty, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc.