Foreclosure ticked up 7.36% in October from September according to RealtyTrac, yet it remains lower than October 2010. During the same period the Average Sale Price of Foreclosure rose 5.67%. The increase in Foreclosures is expected because of the bottle neck of foreclosures held up because of “robo-signing” mess. This is the beginning of the “Shadow Inventory” we have been discussing.
These are National Stats, so below let’s take a look at the “heat map” of Minnesota Foreclosures. It doesn’t give us the quantity of mortgage foreclosures, but it gives us a geographical area where home values may be hit the hardest. For further information, check out RealtyTrac.
Below are embedded graphs from RealtyTrac (you may have to refresh this page a couple of times to get them to connect.)
- Foreclosures Up in October, but Default Notices Drop in Nevada (blogs.wsj.com)
- Foreclosures jump 7% in October from September (marketwatch.com)