Using Seasonal Data to Predict Colorado Foreclosures in 2012
The latest report from foreclosure monitoring firm Realty Trac shows nationwide, overall foreclosure activity dipped slightly in February. And the trend is similar in Colorado, with foreclosure auctions down by almost 7%.
Housing officials do expect activity to pick up somewhat, now that the multi-billion dollar mortgage settlement has been inked. But it’s difficult to predict just how much of an increase Colorado will see.
Colorado Division of Housing economist Ryan McMaken says they can make an educated guess about 2012 using seasonal data collected over the past four years. He spoke with KUNC's Erin O'Toole about what the first quarter foreclosure numbers might suggest for the rest of the year.