Friday, May 30, 2014

March foreclosures fall 7 percent

The March foreclosure data for Colorado's 12 metropolitan counties is now available. Foreclosure filings and foreclosure auction sales were near an eight-year low during March 2014, with foreclosure filings dropping 7 percent, year over year, from March 2013 to March 2014. Foreclosure auction sales, over the same period, dropped 35.3 percent in all metro s combined. 

The first graph shows  filings and sales for each month since 2007.  There were 981 foreclosure filings and 404 foreclosure sales during March: 

A six-month moving average gives us a clearer look at the overall trend. Not surprisingly, the trend has been a downward one for some time:

The third graph shows the foreclosure filings total for each month.  We see that March's total was the lowest total ever recorded in March since the survey was begun in 2007. It is not an all-time low, however. 

The next graph shows the foreclosure auction sales totals for each month. We see here that March's total of 404 sales is just slightly above the all-time recorded low of 386, recorded during November 2013. 

Both foreclosure filings and sales are down year over year in March, which means that both filings and sales have been down YOY every month for the past 17 months. However, March's decline in filings was the smallest decline experienced over that 17 months. 

Here are charts showing the breakouts by metropolitan counties.

This chart shows foreclosure filings for March 2013 and March 2014.  Total filings were down 7 percent year over year.

This chart shows foreclosure auction sales comparing March 2013 and March 2014. The overall total was down 36.3 percent. 

This graph shows the month over month change in foreclosure filings. From February 2014 to March 2014, total foreclosure filings rose 7.3 percent. 

From February 2014 to March 2014, total foreclosure sales at auction rose 0.7 percent. 

The final graph shows the foreclosure rate, based on total occupied households for each county divided by the number of foreclosure auction sales. March 2013 stats on left, and March 2014 stats on right. The lower the number, the worse the foreclosure rate: