Colorado 26th for foreclosures
Foreclosures may be dwindling in Denver, but they aren’t totally gone. The Bank of New York Mellon acquired this 1,101-square-foot home in July in a foreclosure, according to public records.
The era of Colorado being considered the poster child for foreclosure activity appears to be long over.
Colorado ranked 26th in foreclosure activity in July, according to a national report released today by RealtyTrac.
In fact, Colorado and a handful of other states are now either at or below foreclosure levels where they were before the housing bubble burst, according to RealtyTrac.
About a half-dozen years ago, when the national real estate bubble was peaking, Colorado and the Denver area experienced a flurry of foreclosure activity before it hit the rest of the country.
In those days, Colorado and the Denver area were often ranked in the top three foreclosure markets in the U.S., often being saddled with the unwanted distinction of being No. 1 in the nation for foreclosures.
Until the last year or so, Colorado was often still on the top 10 list for foreclosure activity.
The latest report by RealtyTrac shows that one out of every 1,515 households in Colorado was in some stage of the foreclosure process in July.
That compares with the national average one out of every 1,001.
Colorado’s foreclosure activity last month was down 49.53 percent on a year-over-year basis, compared with a national drop of 31.8 percent.
Foreclosure activity in July dropped 10.85 percent, while across the country it dipped an average of only 2.42 percent.
Most of the counties in the Denver area showed fewer foreclosures than that state, according to RealtyTrac.
The number of foreclosures by household units by county were:
- Adams, one out of 1,031.
- Arapahoe, one out of 1,315.
- Boulder, one of 3,085
- Broomfield, one out of 2,007.
- Denver, one out of 1,830.
- Douglas, one out of 7,023.
- Elbert, one out of 2,960.
- Jefferson, one out of 1,573.
