Mortgage foreclosures continue to increase in Dakota County
A report published this week shows the number of homes sold at sheriffs' sales across the state of Minnesota continued to increase in the second quarter of 2011 compared to first quarter 2011. The same can be said for Dakota County's numbers.
The report shows that there were 11,257 foreclosures in Minnesota in the first half of 2011.
For the six-month period ending June 30, sheriff's sales in Dakota County were at 1,630. For the entire 2010, sheriff sales in Dakota County totaled 2,147.
The Minnesota Home Ownership Center, Greater Minnesota Housing Fund, Minnesota Housing and Family Housing Fund published the report, with research provided by Housing Link.
The report, "Foreclosures in Minnesota," analyzes sheriff's sale data, the primary means of identifying foreclosures, from all Minnesota counties. Minnesota is unique among other states in the availability of current, comprehensive foreclosure sale data.
"While we're encouraged by the year over year change, the trend over the last three quarters is discouraging--foreclosure sales have increased for the last three quarters," said Julie Gugin, executive director of the Minnesota Homeownership Center.
The number of mortgage foreclosures in Dakota County has continued to show an increase from one year to the next since the early 2000s. In 2009, mortgage foreclosures totaled 1,860 in Dakota County; in 2010, the number reached 2,147.
For the entire state, there were 25,673 foreclosures in 2010, an increase of 11 percent for 2009's 23,092.
The year 2010 replaces 2009 as the second highest year on record.