U.S. foreclosure filings drop to three-year low

Thursday, March 10, 2011

Foreclosure activity in the nation hit a three-year low in February and Minnesota showed a sharp decline in related filings, according to data released Thursday by California-based RealtyTrac.

“I think we are seeing foreclosures starting to work their way through the market,” said Tousley, director of the Shenehon Center for Real Estate at the University of St. Thomas. “I don’t think this (drop in foreclosure filings) is an artificial lull based on procedural issues. I think the economy is looking up and employment is getting a little better.”

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Originally published: 03/10/2011, Finance & Commerce