Editorial: Statewide housing outlook is improving
There are positive signs in the real estate market across west central Minnesota and the rest of the state.
The number of foreclosures is continuing to decline across the state, according to the Minnesota Homeownership Center.
Housing demand is beginning to stabilize or increase housing values, which helps improve home equity levels.
The organization reported that there were only 6,795 foreclosure sales during the first half of this year, a decline of 29 percent compared to the same period in 2012.
These foreclosure levels are at the lowest since 2006.
While the housing recovery in outstate Minnesota may be not as strong, the fact remains that outstate foreclosure sales have declined 23 percent as well.
Positive factors in helping the housing recovery statewide are low interest rates, an improving economy and job growth.
An improving housing market is a good deal for both buyers and sellers.