Colorado Foreclosures Decline

Some more good news for the Denver housing market today. A state report released this morning shows that Colorado foreclosures not only fell, but they hit their second lowest quarterly total since 2007.

Here's the key information from the Denver Business Journal:

Public trustees reported 7,233 foreclosure filings in the second quarter with 5,333 sales at auction being completed. Both numbers are down from the same period in 2010, when there were 10,233 filings and 5,887 homes sold, according to the Colorado Division of Housing 2Q Foreclosure Report.

That's the second-lowest quarterly total since 2007, according to the report.

The numbers also fell from the first quarter, when there 8,115 filings and 5,600 sales, drops of 10.9 percent and 4.8 percent, respectively.

This news is a continuation of other data we have reported here. The Denver housing market is definitely improving - slowly.

One of the contributing factors to this improvement is the incredibly low vacancy rates and the resulting high rental fees. This is prompting many would be renters to consider owning a home; not primarily for investment purposes, but simply to keep their monthly payments lower.

If you'd like to talk more about Denver foreclosures or the market in general, give our team a call at 303-726-1874.

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