Colorado Foreclosures - 27% Drop in New Filings

According to the Denver Business Journal, new filing for Colorado Foreclosures were down 27% the first quarter of 2011 compared to the first quarter of 2010. This marks the lowest level since 2008 - definitely a good sign for the Colorado and Denver housing market.

The same article also details that Colorado Foreclosures showed a decline in sales at auction of 16 percent last quarter as compared with the same quarter in 2010.

All of this data lines up with what we've been seeing in Denver foreclosures and Denver HUD homes over the past few months. The market in our area is definitely improving - albeit slowly - and we're seeing more and more investors in a hurry to buy homes now.

Here's the key graph from the article:

Colorado saw 8,115 new foreclosure filings in the first quarter, down 27 percent from the first-quarter 2010 total of 11,136, the report said.

And final foreclosure sales at auction totaled 5,606 in the latest quarter, down 16 percent from the 6,686 sales statewide in the same period a year earlier.

First-quarter foreclosure filings also declined 24 percent from the fourth quarter of 2010, but foreclosure sales were up 19.5 percent from the final quarter of last year, the state report said.

Read more: Denver Business Journal

If you'd like to talk more about Colorado Foreclosures, the Denver market or have any general questions, feel free to call us at 303-726-1874.