Friday, February 28, 2014

Housing News Digest, February 28

NoCo foreclosure rates down 42 percent Northern Colorado experienced a 42 percent decrease in foreclosures from Jan. 2013 to Jan. 2014 compared year over year. Data released today by the Colorado Division of Housing shows a statewide decrease year-over-year with foreclosure filings down by 34.3 percent from Jan. 2013 to Jan. 2014, and foreclosure sales down by 37.1 percent during the same time period.

Average rent continues to rise in Springses  Average apartment rent rose in the Colorado Springs metro for the 16th consecutive quarter (year over year) at the close of 2013, according to a report released Friday by the Colorado Division of Housing and the Apartment Association of Southern Colorado. The report indicated that the average rent for Springs residents rose $9 (or 1 percent) to $799 compared to the same quarter of 2012. Although the year-over-year rate has increased for 16 straight quarters, the report specified that average rent is down from $830 during the third quarter of 2013.

  Front Range foreclosure filings jump 51% in January Foreclosure filings in 12 Front Range counties jumped 51 percent in January from a record low number in November, the Colorado Division of Housing reported Friday. "We can blame a lot of it on seasonality," division of housing economist Ryan McMaken said on Friday.

  Colorado Sprints apartment rise in fourth quarter, although not as dramatically as in the past Apartment rents continued to rise in the Colorado Springs area late last year, although not quite as fast as they have of late, according to a Colorado Division of Housing report released Friday. Rents averaged $799.67 a month in the fourth quarter of 2013, a nearly $9 or 1.1 percent increase over the same period a year earlier, the report showed.

  Institutional investors buying homes in Denver at increasing rate Institutional investors — non-lender buyers who have purchased 10 or more homes over the past 12 months — have hit the Denver real estate market in a big way during the past year, according to RealtyTrac. In a report released Thursday, RealtyTrac said institutional investor activity in metro Denver was 20.1 percent higher in January than a year ago. By contrast, institutional investor purchases nationally reached a 22-month low in January.