Denver Foreclosures: Auction Sales Down 24% in Metro Counties in 2012

The Colorado Division of Housing has a post on their blog detailing the steep decline in the number of (Denver area counties). The numbers are impressive and show why we are seeing such a decline in overall inventory for .

Some of the highlights from their post:

Foreclosure auction sales were down year over year to the lowest levels reported during September in six years, while foreclosure filings during September 2012 were also down year over year.

Comparing year-over-year from 2011 to 2012, foreclosure filings in September fell 34.7 percent with totals falling from 2,429 to 1,585.

September 2012 foreclosure sales (completed foreclosures) were down compared to September 2011 with a decrease of 4.5 percent from 1,124 to 1,073.

During the first nine months of the year (Jan-September), foreclosure filings were down 1.0 percent from 19,010 to 18,826 from 2011 to 2012. During the same period, foreclosure auction sales were down 23.9 percent from 12,626 to 9,614.

Filings fell 30.7 percent from August 2012 to September 2012, and auction sales were down 20 percent over the same period.

This, of course, is great news for the market in general. We've been reporting on the decline in Denver foreclosures and for well over a year now. This decline has been helped, in part, to more banks accepting contracts in lieu of foreclosure sales.

If you have questions about these numbers, or have questions on a specific area or neighborhood, call our team of experts today at 303-726-1874.