Metropolitan Statistical Area (MSA):
Faribault-Northfield, MN is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the Faribault-Northfield, MN metropolitan statistical area (MSA) has been one of the hardest hit areas in terms of housing market trends. The combination of a struggling economy and the recent housing market crash has taken its toll on the area, with home prices plummeting and foreclosures skyrocketing. However, there are signs that the worst may be over for the Faribault-Northfield MSA.
Home prices in the area have finally begun to stabilize, after years of decline. This is good news for both buyers and sellers, as it provides more certainty in the market. In addition, foreclosure rates have begun to fall as well, giving hope to those who are struggling to keep their homes.
Of course, it will take time for the Faribault-Northfield MSA to fully recover from the housing market crash. However, with prices stabilizing and foreclosures falling, there is reason to believe that better days are ahead for this once-hard hit area.