Colorado Foreclosures Down

Colorado Foreclosures Down

business

Colorado metro foreclosure filings, sales down so far this year

Updated: 09/16/2011 02:52:08 AM MDT

(Associated Press file photo)

Foreclosure filings and sales in Colorado's metropolitan counties were down during the first eight months of this year compared with the same period of 2010, the Colorado Division of Housing said Thursday.

August was the ninth consecutive month in which both filings and sales were down when compared with the same month a year ago, said Ryan McMaken, an economist for the division.

Foreclosure filings from January through August fell 31.4 percent, to 16,481 filings, compared with 24,032 filings during the same period last year.

Foreclosure sales at auction were down 18.5 percent during the same eight-month period.

There were 11,502 sales at auction from January through August of this year, compared with 14,114 during the same period last year.

However, from July to August of 2011, foreclosure filings increased 34.2 percent and sales at auction rose 32 percent. Foreclosure filings hit a six-month high in August, while foreclosure sales at auction reached a two-month high.

"This sizable increase from July may signal that some lenders are beginning to process foreclosures more quickly, or it could be due to the increase in new mortgage delinquencies reported during the second quarter," McMaken said.

He said all metro counties showed decreases in foreclosure filings and sales in the year-to-year comparisons.

Howard Pankratz: 303-954-1939 or hpankratz@denverpost.com



Read more: Colorado metro foreclosure filings, sales down so far this year - The Denver Post http://www.denverpost.com/business/ci_18905989#ixzz1YRD9WGTL
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