Whether the foreclosures are nearing an end in the housing crisis began remains unclear from the latest Crow Wing County numbers.
The Crow Wing County Recorder’s office noted there were 28 sheriff’s certificates or foreclosures in October.
That’s down from 45 foreclosures in October of 2010. But the notices of pendency, which indicate a foreclosure sale is in the works remained higher, numbering 52 last month. That indicates the pipeline of foreclosures isn’t slowing down as much as may be hoped.
Last year at this time, there were 40 notices of pending foreclosures in October. This year’s numbers are closer to 2009 when there were 27 foreclosures in October with 51 notices pending.
In September, Crow Wing County did something not witnessed in nearly five years since the economic meltdown began. It reported back-to-back months with fewer than 20 foreclosures. There were 18 in September and 16 in August.
The highest month for foreclosure’s this year came in March with 58. So far this year, there have been 318 foreclosures in Crow Wing County.
In 2010, there were 388 foreclosures in the county compared to 351 in 2009, 356 in 2008, 231 in 2007, and 142 in 2006. In 2000, there were 43 foreclosures in Crow Wing County.