Colorado Foreclosures Fall 25 Percent

The good news on Denver foreclosures keeps coming. The number of Colorado foreclosures reached the lowest level since 2006. The total number of foreclosures for 2011 show a 25% decline from 2010.

These number continue to correspond with the statistics and housing inventroy we've been seeing over the past year. Inventory number continue to decrease and we're finding the number of Denver HUD homes and foreclosures decreasing at a faster rate than the traditional resales.

From the Denver Business Journal:

Colorado foreclosures in 2011 reached their lowest level since 2006, the state Division of Housing reported Wednesday.

New foreclosure filings in Colorado, which may or may not lead to the auction of a home, last year totaled 31,914, down 25 percent from 2010 levels. Meanwhile, foreclosure sales at auction totaled 19,622 in 2011, down 17 percent.

Both totals were the lowest statewide since 2006, the report said.

While the decrease in foreclosures doesn't mean that things are going to improve overnight, these numbers serve to strengthen a trend we've been seeing for the past year.

As with all real estate, everything is local. If you'd like information on foreclosures in a specific neighborhood or city, give us a call at 303-726-1874. The numbers for Denver foreclosures can vary wildly from neighboring cities and areas.