Some more great news on Colorado foreclosures this morning. There was a significant decline in year-over-year foreclosure filings between March of 2011 and March of 2012, sending another signal that the market for Denver homes continues to improve.
From The Denver Business Journal:
The number of Colorado properties with foreclosure filings rose 2.38 percent in March from February, but fell 21.9 percent from March 2011, according to a monthly report Thursday from RealtyTrac Inc.
The state had 3,742 properties with filings last month, or one out of every 591 housing units statewide, up from the February tally of 3,655 properties, or one in 605 properties, according to RealtyTrac, an Irvine, Calif.-based private marketer of foreclosure properties.
We’ve been reporting for several months that all of the housing statistics continue to point in an upward direction. Year-over-year statistics in every category point to decreasing inventory and increasing prices. A decline in Colorado foreclosures of over 20% in a year is big news and is consistent with the numbers being reported by all of our sources.
We’ll continue to watch the major indicators and report back here. In the meantime, if you’d like to talk with our team about Colorado foreclosures or the market in general, give us a call at 303-726-1874.
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