A two-year decline in foreclosures in Minnesota continued in the first three months of this year, according to a new report.
The number of foreclosures fell 22 percent during that period, compared to the same time a year earlier, according to HousingLink, a nonprofit, affordable housing organization.
Despite the improvement, the number of foreclosures in Minnesota is still running well above typical yearly rates.
"In a traditional year pre-crisis we would've seen about 5,000 foreclosures statewide, and in just in a single quarter, the first quarter of 2013 we're somewhere just under 4,000," said Dan Hylton, the group's reserach director. "By the time we get to the end of the year, we're likely to exceed the traditional numbers by a couple times over."
The decline in foreclosures in the seven-county metro area during the first quarter was slightly greater than in outstate Minnesota.