Tag Archive | "Metropolitan Areas"

Twin Cities Q1 foreclosures up 22 percent

Twin Cities foreclosures increased by about 22 percent in the first three months of 2010 from the same period one year ago, according to a new industry report out Thursday.

The 8,305 Minnesota and Wisconsin properties with first-quarter foreclosure filings in the Minneapolis-St. Paul region is a 2 percent improvement over the final quarter of 2009, according to the Q1 2010 Metropolitan Foreclosure Report by Irvine, Calif.-based RealtyTrac Inc.

The Twin Cities region’s foreclosure rate ranked 80th highest on a list of 206 United States metropolitan areas with populations more than 200,000.

California, Florida, Nevada and Arizona cities dominated the top of the list.

The report says one in every 162 housing unit properties in the Minneapolis-St. Paul area, or 0.62 percent, has at least one foreclosure filing entered into RealtyTrac’s database.

Nationally, 932,234 properties met that criteria in the first quarter, the report said. That’s one in every 138 housing units, or 0.72 percent.

Of the 10 cities with the worst foreclosure rates, eight showed improvement in the first quarter compared to the same time last year.

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Jobless rate down in Twin Cities, but not rest of country

The Twin Cities was one of only two metropolitan areas in the U.S. where the March jobless rate was down year-over-year, according to new federal labor statistics.

The U.S. Department of Labor’s Bureau of Labor Statistics said Wednesday that 47 of 49 large metropolitan areas (with a Census 2000 population of at least 1 million) had higher unemployment rates in March 2010 than March 2009.

Only the Minneapolis-St. Paul-Bloomington area in Minnesota and Wisconsin, down six-tenths of a percentage point, and the Buffalo-Niagara Falls region in New York, down two-tenths of a point, beat the trend.

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