Some more good news for the Denver housing market was released by RealtyTrac yesterday. According to their 3rd quarter foreclosure market report, Denver foreclosures fell by 14.6% in the 3rd quarter of 2012 when compared to the 3rd quarter of 2011.
While this isn’t a surprise to anyone who has been reading our blog over the past year, it’s worth pointing out that the number of Denver foreclosures continues to fall – not just year-over-year, but also on a monthly basis. These numbers are paralleling the overall decrease in Denver homes for sale we are seeing every month.
From The Denver Business Journal:
The Denver metro area ranked 55th out of the nation’s 212 largest metro areas in foreclosure activity in the third quarter, according to RealtyTrac’s Q3 2012 Metropolitan Foreclosure Market Report released late Wednesday MDT.
Metro Denver’s foreclosure rate fell 14.6 percent in the third quarter from the same period a year ago, to one out of every 185 housing units. The metro area’s Q3 foreclosure rate was a 4 percent increase from the second quarter, however.
Nowhere is this decrease in Denver foreclosures more evident than in the market for Denver HUD homes. With the re-introduction of the $100 HUD Down payment program in Denver late last year, the competition for Denver HUD homes has been intense. Most HUD homes are seeing multiple bidders and are going off the market the first day that bids close.
If you are interested in learning more about the market for Denver foreclosures or Denver HUD homes, give our team of experts a call. You can reach us at 303-726-1874.
There are still some fantastic deals available on foreclosures, but you have to move quickly and have an experienced foeclsure agent working for you!