Tuesday, December 6, 2011

Housing News Digest, December 6

Denver metro foreclosures up in November (Denver Post)
Foreclosure sales spiked in Colorado's most populated counties in November, even as new foreclosure filings continued their downward trend, the Colorado Division of Housing reported today.

There were 2,296 new foreclosure filings in November in the state's 12 metro counties, down 21.7 percent from 2,932 in November 2010 and 2.3 percent from October.

Foreclosure filings down (Fox21)
Pueblo County reported the smallest decline in filings with a decrease of only 12.5 percent from the first eleven months of 2010 to the same period of time this year.

In a statement a spokesman with the Colorado Division of Housing said that it looks like Colorado is going to end 2011 with fewer foreclosure than in 2010.

2011's foreclosure filings down 28 percent as year nears end
Foreclosure sales in Larimer County rose 47 percent in November compared to a year ago but filings dropped 37 percent.

Overall, sales and filings dropped in Larimer County in the first 11 months of the year compared to the same time frame in 2010.

However, comparing the first 11 months of this year to the same period last year, foreclosure filings were down 28.6 percent through November while foreclosure auction sales were down 20.7 percent.

November foreclosure sales rise in urban Colorado counties, but they’re down year to date (DBJ)
Colorado’s urban counties saw a year-over-year rise in foreclosure sales at auction last month for the first time in 14 months, but foreclosures for the first 11 months of 2011 are still well below 2010 levels, state officials reported Tuesday.

The latest monthly report from the Colorado Division of Housing covers the state’s 12 largest counties.

Supply of homes on market falls to nearly 7-year low

The number of single-family homes listed for sale last month in the Colorado Springs area fell to its lowest point in nearly seven years, while sales rose and prices fell — continuing recent trends in the local housing market.

Home listings in November plummeted to 3,667 — the fewest in any month since 3,557 in January 2005, according to a report released Monday by the Pikes Peak Association of Realtors.