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To learn more about HousingLink foreclosure research please contact Dan Hylton, HousingLink's Research Manager, at 612-767-4682 (ext. 222).
FORECLOSURES IN MN SERIES:
JUST RELEASED: Q3 2013 Foreclosure Update
Released: November 2013
With 2,972 foreclosures in Minnesota, Q3 of 2013 becomes the first quarter falling short of the 3,000 mark since 2006. Although foreclosures leveled somewhat since the previous quarter (down 3%), the statetwide total was down 33 percent over the same quarter last year. It is worth noting that, despite five consecutive quarters of decline, this quarter's foreclosure total is still roughly twice that of pre-crisis levels.
JUST RELEASED: 2013 Semi Annual Foreclosures in MN
Released: August 2013
There were 6,795 foreclosures in Minnesota in the first two quarters of 2013. This number is 29 percent less than in the same period of 2012, with a greater decline seen in the Twin Cities metro area (down 33 percent) than in Greater MN (down 23 percent). The first two-quarter total of 2013 is nearly 50 percent below the same period of just three years ago, but it is important to note that homes are still being lost through foreclosure at rates exceeding twice those of historic levels..
2012 Annual Foreclosures in MN
Released: February 2013
There were 17,895 foreclosures in Minnesota in 2012. This number is down 16 percent down from 2011, and the lowest statewide total since 2006. However, the total number of foreclosures remains elevated, still nearly three times the number of annual foreclosures in 2005, the first year these numbers were compiled. HousingLink was commissioned to complete this report by The Minnesota Home Ownership Center, Greater Minnesota Housing Fund, Minnesota Housing, and Family Housing Fund.
2011 Annual Foreclosures in Minnesota
2010 Annual Foreclosures in Minnesota
2009 Annual Foreclosures in Minnesota
2008 Annual Foreclosures in Minnesota
OTHER FORECLOSURE RESEARCH:
Foreclosure Recovery Progress Report Through Q4 2012
Released: February 2013
Thanks to support from Family Housing Fund and Twin Cities Local Support Initiatives Corporation (Twin Cities LISC), HousingLink tracked foreclosure recovery efforts of the Minnesota Foreclosure Partners Council (MFPC) over a period of five years, via a series of semi-annual reports. This report, through the end of 2012, concludes the series. The MFPC is a collaborative effort by local government agencies andnonprofits to address the foreclosure crisis in Minnesota. In the Fall of 2010, HousingLink's quantitative measurement of three goals was adopted into the MFPC's Coordinated Plan to Address Foreclosures.
Geographic Distribution of MN Foreclosures 2007-2011
Released: July 2011
HousingLink has been tracking Minnesota foreclosures at the county level since 2005 with nearly comprehensive statewide coverage since 2007. Over that time, we’ve seen the foreclosure crisis move from one largely based on mortgage products to one that is based on the economy (e.g. unemployment or under-employment). How might that transition affect Greater MN, relative to the Twin Cities 7-county metro area? We explored that issue by dividing all MN counties into quartiles, according to their rate of foreclosure, then comparing how that distribution shifts, over time. The resulting maps seem to indicate that that the crisis, which hit our urban communities particularly hard early on, has spread to other areas throughout the state. HousingLink is able to continue its efforts in tracking this critical measurement due to funding by the Minnesota Foreclosure Partners Council and cooperation by county sheriff departments.