6,762 homebuyer-client households served. 616 foreclosures successfully avoided.
The Minnesota Homeownership Center has released its Annual Community Impact Report for 2024. Last year, our Homeownership Advisors Network served more than 6,750 homebuyer client households and helped to prevent more than 600 foreclosures. Here are the key takeaways:
- 6,762 homebuyer-client households served
– 93 percent were prospective first-time homebuyers
– 62 percent would be the first generation of their family to own their own home
– 81 percent had income at or below the area median for their community of residence
– 76 percent were households of color - 616 foreclosures successfully avoided
– Represents 95 percent of all client households completing the legal process in 2024
– Amounts to more than $49 million in community wealth preserved - 304 Home Stretch classes presented by our Homeownership Advisors Network partners
– Represents 37,656 hours of consumer education - 324 Realtors® participated in our professional Continuing Education (CE) classes
- 1,440 industry professionals participated in our Down Payment Assistance program trainings
On a comparative basis, homebuyer-client households served increased 39 percent from 2023, and homeowner clients initiatiing the foreclosure prevention process with us increased more than 10 percent. Sheriff Sales decreased by 12 percent, indicating continuing stability in this area as we move past the five-year mark of the onset of COVID-19.
The Center’s complete 2024 Community Impact Report is accessible via the link below.