Foreclosures Filings: Up 4% in Colorado – Denver Real Estate

Foreclosure filings have increased by 4% in in the first 8 months of 2012 compared to last year’s numbers according to the Colorado Division of Housing. The article stated:

For the first eight months of 2012, from January through August, foreclosure filings were up 4.0 percent in Colorado metro counties when compared to the same period last year, according to a report released Thursday by the Colorado Division of Housing.

Foreclosure auction sales, however, were down 25.7 percent over the same period.

Foreclosure auction sales are opened foreclosures that have proceeded through the full foreclosure process to final sale at public auction.

“With all of the slowdowns and administrative delays that pushed foreclosure filings down so far last year, I expected a larger increase in filings this year,” said Ryan McMaken, a spokesman for the Colorado Division of Housing.

“Instead, new foreclosures are only up slightly this year, while completed foreclosures really dropped off, reflecting last year’s big drop in new filings,” he added.

In August, foreclosure filings were down 1.6 percent in Colorado metro counties, and foreclosure auctions sales fell to a six-year-low, according to the report.

The report said that auction sales in Colorado’s metropolitan counties were down 10.4 percent last month compared to August of 2011, falling from 1,497 to 1,341.

The whole article can be read here. To learn more about Denver real estate, contact us for reports.

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