Minneapolis Duplex & Triplex Investors: Don’t Wait for a Foreclosure Wave That May Never Come

If you’ve been waiting for a wave of Minneapolis duplex, triplex and foreclosures equal to the numbers of the Great Recession before investing in real estate, you may be in for a long wait.

For the 1th consecutive month, year-over-year foreclosure filings rose in the U.S. According to a report published in ATTOM.

Before you get too excited or too concerned, it’s important to note that nationwide, foreclosure filings remain well below historic norms. Just one of every 3701 housing units in the country was facing a notice of default or foreclosure in February.

States with the highest foreclosure rates are Indiana (1/1597), South Carolina (1/2217), Florida (1/2277), Delaware (1/2443); and Illinois (1/2590 housing units).

Minneapolis was one of five major metropolitan areas with populations greater than 1 million with the largest year-over-year decreases in foreclosure starts in February 2026. That number dropped from 218 foreclosure starts in February 2025 to 143 foreclosure starts last month.

As a state, Minnesota’s foreclosure filings last month fell in the middle of the pack, landing at 35th highest in the nation. There aret 2,545,030 housing units statewide, of which just 343 were in foreclosure, making the state’s foreclosure rate one in every 7,420 households. Waseca, Stearns, and McLeod counties had the most foreclsoure filings per household.

While some of the resources I consult appear to show more activity than this report suggests, I’ve learned over the years they aren’t always accurate.  Depending on your point of view, the good news and the bad news is I have yet to read anything suggests an imminent foreclosure wave, either in Minnesota or the nation.