Colorado Foreclosures Down Nearly 60%!

Some more good news for the Colorado housing market was released this week with details on Colorado foreclosures. According to the latest report from the Colorado Division of Housing, year-over-year foreclosure sales for metro counties in August of 2013 were down 59.7% when compared to August of 2012.

The complete report can be seen here, and details the difference between foreclosure filings and sales and provides charts detailing the incredibly low number of foreclosures compared to years past. a key bit:

During August 2013, foreclosure filings were down, year over year, and foreclosure filings were also down and remained near 7-year lows. Foreclosure sales at auction also remained near 7-year lows.

August 2013 foreclosure filings were down 54.7 percent from August 2012, dropping from 2,287 to 1,037, year over year.

August 2013 foreclosure sales (completed foreclosures) were down compared to August 2012 with a decrease of 59.7 percent, dropping from 1,341 to 541, year over year.

For the first eight months of the year combined, foreclosure filings were down 46.7 percent in 2013 compared to the same period last year. There were 17,197 foreclosure filings during the eight months of 2012 and 9,171 during the same period this year.

Foreclosure auction sales were down 35.0 percent comparing the first eight months of 2013 to the same period last year. There were 8,541 foreclosure sales during the first fivemonths of last year and 5,553 during the same period this year.

These numbers correspond to the numbers we have been seeing in other sources for Denver foreclosures over the past several months. Again, as we are fond of saying, sales for each neighborhood can be different.

For a detailed list on foreclosures for your area, contact us today. There are still some areas that are underwater providing opportunities for buyers looking for Denver short sales as well.



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