Posted almost 14 years ago

Colorado Foreclosures Hit 5 Year Low in January

Some more good news on Colorado Foreclosures came out yesterday. The number of foreclosure filings for January 2012 represented the lowest January numbers in 5 years.

This decrease in Colorado foreclosures is part of the reason we're seeing such a decrease in housing inventory on the market. Both standard bank foreclosures as wells as Denver HUD homes have been down significantly over the past 6 months. This lack of foreclosure inventory has been compounded by the lower number of standard resale homes being listed to create a severely low inventory of available homes.

We're seieng the homes we do list go under contrract quickly and we have several buyer's who simply can't find availale homes in their market.

From The Denver Business Journal:

Colorado’s urban counties’ foreclosure filings and sales were both down in January from a year earlier, hitting their lowest January totals in five years, according to a report Thursday from the Colorado Division of Housing.

New foreclosure filings in the state’s metropolitan counties fell year-over-year in January, dropping 28.2 percent to 1,939 filings from 2,699 in January 2011.

Foreclosure auction sales were down 23.3 percent in January from a year earlier, dropping to 1,150 from 1,499.

There is talk that some banks were waiting for the recent settlement with the government on mortgage fraud before releasing new foreclosure listings, so we'll see how that plays out in the coming months. But so far, we haven't seen many more Colorado foreclosures being released.

If you would like more information for your specific area, give our team a call at 303-726-1874.

Colorado Foreclosures Hit 5 Year Low in January

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