10:50am

Thu May 16, 2013
Business

Colorado Sees 41 Percent Drop In Foreclosure Filings

There were 4,571 foreclosure filings during the first quarter of this year compared to 7,785 during the first quarter of 2012. That’s a 41 percent drop.

“40 percent drops in foreclosure filings were typical all along the Front Range this past quarter. The decline in foreclosures has been a statewide phenomenon so far this year, said Ryan McMaken with the Colorado Division of Housing in a statement.

Foreclosure auction sales, or completed foreclosures, experienced a drop of nearly 30.5 percent this quarter down from 4,221 in 2012 to 2,935 this year.

Both figures are the lowest quarterly totals collected since the Colorado Division of Housing began tracking quarterly totals in 2007.

Credit Colorado Division of Housing

The counties with the largest declines in new foreclosure filings were Douglas County at 49.3 percent and Mesa County at 47.1 percent. Only ten of the state’s 64 counties reported increases in foreclosure filings over last year.

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