The Colorado Division of Housing released their 2nd Quarter Foreclosure Report detailing the sales and filings of Colorado Foreclosures – and the data is great news for the state’s housing market! Foreclosure filings are at 10 year lows and completed sales are even lower.
The entire report is worth looking at here, but here are some of the highlights:
- Year-over-year foreclosure filings fell 49.9 percent
- Year-over-year completed foreclosures (sales) fell 29.8 percent
- Colorado Foreclosure Filings are at a 10 year low
- Foreclosure Sales are also at a 10 year low
This graph highlights the improvement we have been seeing in the market:
The numbers encompass the entire state. While numbers vary for Denver foreclosures, Colorado Springs foreclosures and other areas, the overall trend is incredibly positive. If you have a specific area of interest, give us a call and we can run a full analysis for you on a city or neighborhood.
This huge decrease in foreclosures helps to explain the low inventory of available homes we are seeing on the market and also points to why we are seeing fewer and fewer Denver short sales hit the market.
As always, feel free to contact us with any questions.