For the first eleven months of the year, from January through November, foreclosure filings were down 6.5 percent in 2012 when compared to the same period last year. Foreclosure auction sales were down 19.9 percent over the same period.
Foreclosure filings are the initial filing that begins the foreclosure process, and foreclosure auction sales totals are the total number of foreclosures that have been sold at auction at the end of the foreclosure process.
“Declines in foreclosure filings have accelerated in recent months,” said Ryan McMaken, an economist for the Colorado Division of Housing. “There are still going to be some ups and downs, but declines in foreclosures this year have been larger than what we expected.”
Comparing the first eleven months of this year with the same period last year, the counties with the largest drops in foreclosure filings were Larimer and
counties where filings decreased by 17 percent and 18.5 percent, respectively. , on the other
hand, reported a 17.8 percent increase in foreclosure filings over the same
County was the only county to report an
increase in foreclosure filings. Mesa County
Ten of twelve counties surveyed showed decreases in foreclosure auction sales during the first eleven months of this year when compared to the same period last year. The counties with the largest decreases in foreclosure auction sales, year over year, were
Douglas County and where auction
sales decreased by 32.4 percent and 27.7 percent, respectively. Arapahoe
County Broomfield and Pueblo
counties reported increases of 12 percent and 2.9 percent, respectively, in
auction sales over the same period.
The county with the highest rate of foreclosure sales during November was
with a rate of
1,143 households per foreclosure sale. Mesa
came in second with 1,323 households per foreclosure sale. The lowest rate was
found in Pueblo County where there were 3,912 households
per foreclosure sale. Boulder County
The Division of Housing’s monthly foreclosure report surveys foreclosure activity in the twelve metropolitan counties of
The report is a supplement to the Division’s quarterly foreclosure report that
includes all counties in Colorado.