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Colorado Foreclosure Filings, Sales Drop In January

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(credit: CBS)

(credit: CBS)

DENVER (AP) – The number of foreclosure filings in Colorado’s 12 largest counties has kept declining, according to state housing data released Thursday.

A report from the Colorado Division of Housing found that both foreclosure filings and sales were down last month compared with January 2011. Sales were down 23.3 percent and filings dropped by 28.2 percent.

Filings also dropped by 18.6 percent between December and January but sales rose 18.8 percent.

All counties except for Broomfield County had fewer foreclosure sales last month compared with January 2011. Mesa County had the highest rate of foreclosure sales, with one sale for every 752 households. Boulder County had the lowest with one sale for every 3,621 households.

Foreclosure filings declined for 14 straight months, according to the report. Nationally, however, the number of homes repossessed by banks rose 8 percent between December and January, although the figure was still down compared to January 2011.

Some lenders have been delaying foreclosure proceedings as they wait for a multistate foreclosure settlement. Foreclosures are expected to increase nationally after the $25 billion deal was finalized.

Division spokesman Ryan McMaken said it’s hard to predict how that will play out in Colorado and whether it would be enough to reverse Colorado’s downward trend.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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