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Foreclosures are down so far this year in Dakota County

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News Farmington, 55024
Farmington Independent
651-463-7730 customer support
Farmington Minnesota P.O. Box 192 / 312 Oak St. 55024

A report published this week on the number of homes sold at sheriffs' sales in Minnesota during the first half of 2012 sends a mixed message on the overall health of Minnesota's housing market. The report indicates that there were 9,565 foreclosures in the first half of 2012, a decline of 15 percent from the same time period in 2011, but also shows that the foreclosure rate has remained virtually unchanged for the last three quarters.

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The report, titled "2012 Semi-Annual Foreclosures in Minnesota: A Report Based on County Sheriff's Sale Data," analyzes sheriff's sale data, the only accurate means of identifying completed foreclosures, from each of Minnesota's 87 Counties. Minnesota is unique among other states in the availability of current, comprehensive foreclosure sale data.

The report released Monday by the Minnesota Homeownership Center, indicates that the number of sheriff's sales in Dakota County has actually decreased by 22 percent over the same period last year. For the first six months of the year, Dakota County foreclosures reached 830, compared with 1,067 for the same period in 2011.

In spite of this year-over-year decline, foreclosure levels have remained steady, varying only a few percentage points over the past four quarters (down a total of 3 percent statewide from the third quarter of 2011 to the second quarter of this year).

The Minnesota Homeownership Center works with 50 community non-profit organizations, government and tribal organizations to deliver homeownership education and foreclosure prevention services to low- and moderate-income households throughout Minnesota.

In Dakota County, the Community Development Agency has a number of programs and services available to help households who are facing possible foreclosures. More information is available at www.dakotacda.org.

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