Colorado Foreclosures Down 55% in October

In October, Colorado foreclosures reached the lowest level ever recorded since the Colorado Division of Housing began tracking monthly numbers. The report shows that foreclosure filings were down 55.2% and foreclosure auction sales were down 68.7% compared to the same time last year.

These numbers correspond to what we've been seeing all year, but the steep drop was more than many expected to see. It will be worth watching to see what happens with the numbers in January as many banks are hesitant to start proceedings during the holiday season.

As always, we'll keep you posted here on all the news for Denver foreclosures.

From the Denver Post:

Foreclosure filings were down 55.2 percent in Colorado metro counties during October, falling to the lowest level since the Colorado Division of Housing began collecting monthly totals in 2007, the agency reported Monday.

In addition, foreclosure auction sales in Colorado's metro counties were down 68.7 percent in October compared with a year earlier, dropping from 1,399 to 438.

During the same period, foreclosure filings dropped from 1,880 to 843.

Foreclosure filings are the initial filings that begin the foreclosure process, and foreclosure auction sales totals are the total number of foreclosures that have been sold at auction at the end of the foreclosure process.

Read more: Colorado foreclosures dive in October - The Denver Post http://www.denverpost.com/business/ci_24598331/colorado-foreclosures-dive-october#ixzz2mXXA5DZK
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