Report: Foreclosures down this quarterby Jessica Mador, Minnesota Public Radio
St. Paul, Minn. — One in every 336 housing units in Minnesota was subject to a default notice, scheduled auction or bank repossession in the third quarter of this year, reports the foreclosure research firm RealtyTrac.
That's less than the national average, but RealtyTrac's Daren Blomquist said the Minnesota delinquencies could be a sign of more foreclosures in the future.
"From August to September, you do see an 11 percent increase overall in activity," Blomquist said. "Specifically in the scheduled auctions, which is the first foreclosure notice we are tracking in Minnesota — those were up 14 percent from August to September."
Third quarter foreclosure activity in the state was down nearly 27 percent over the same period last year.
Nationwide, foreclosure activity inched up after three straight quarterly declines. One in every 213 U.S. housing units was subject to a foreclosure filing.