Nationally December foreclosure activity saw spike up from November numbers.  In December there was a 42,000 unit rise. to 349,519 new foreclosures nationally.   This is still below July and August numbers. However, this does break the 5 month trend of lower foreclosure rates.  Could this be the beginning of the so called bank owned “Shadow Inventory” coming to market?   Possibly, but that still may not affect our local market.

National Foreclosure Trend 2009

Here in Minnesota we see a slightly different trend.  As in the national graph we see a peak in July 2009.  Following this we see a 4 month down trend with a November spike.   Both Nationally and here in Minnesota the numbers continue to be extremely high.    But so far we are not seeing the huge spike predicted by conspiracy theory pundits who are saying a shadow inventory of bank owned properties will flood the market. Stay tuned for Part 3.

Minnesota Foreclosure Trend 2009

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