Posted over 14 years ago

Colorado Foreclosures Drop 50%

Some more good news on Colorado Foreclosures came out today from the Colorado Division of Housing. Year over year foreclosure filings for March were down almost 50% and month over month filings dropped over 6%.

This squares up with what weve been seeing in the market and is a combination of several thing. The two main factors being: 1.) a slowly improving housing market and 2.) a rise in Denver short sales as bank make it easier for selelrs and agents to negotiate short payoffs.

From Colorado Division of Housing:

March Foreclosures in Colorado Metro Areas Plummet Almost 50%

New foreclosure filings dropped to a 31-month low in Colorado's metropolitan counties during March. According to a report released today by the Colorado Division of Housing, foreclosure filings fell 6.4 percent from February to March as lenders and servicers continued to process foreclosure slowly and as stability continued to slowly return to local real estate markets.

Comparing year-over-year, foreclosure filings fell 49.8 percent in March, and year-to-date comparisons show that for the period from January to March this year, foreclosure filings are down 30.9 percent as compared to the same period last year. There were 1,858 new foreclosure filings during March 2011 in Colorado's metropolitan counties, compared to March 2010's total of 3,698.

Read the entire article and report.

If you'd like to talk more about the Colorado foreclosure market, Denver HUD homes or have any other questions, give our team a call at 303-726-1874.

Colorado Foreclosures Drop 50%

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