Denver foreclosures down 46% from a year ago
According to an article in the online version of the Denver Business Journal - Bizjournal - Denver's foreclosures are down dramatically compared to this time last year. While RealtyTrac's foreclosure numbers have been questioned in the past, it seems the numbers today are good news for Denver.
According to the article,
"Foreclosure filings in the Denver metro area declined nearly 46 percent in the first three months of 2009 from the same period a year ago, according to data from RealtyTrac Inc.
The Denver-Aurora area had the 60th-highest foreclosure-filing rate among 203 large U.S. urban areas in the first quarter of the year, according to figures released late Tuesday by RealtyTrac, an Irvine, Calif.-based marketer of foreclosure properties, in its “Metropolitan Foreclosure Market Report.”
A total of 7,250 properties in the area were in some stage of the foreclosure process in the first three months of the year, or one per every 144 households, RealtyTrac said. That was down 22.28 percent from the fourth quarter of 2008 and down 45.77 percent from the first quarter of 2008, it said.
The Boulder area, which RealtyTrac lists separately, ranked 122nd out of 203 cities.
Boulder had 356 properties with foreclosure filings in the first quarter, or one in 347, down 4.04 percent from the fourth quarter of 2008 and down 20.18 percent from the first quarter of 2008, RealtyTrac said.
The highest ranking Colorado city on the Q1 2009 list was Colorado Springs at No. 57, with one in 136 properties in foreclosure."
As a full-time real estate agent, I can tell you these numbers seem pretty accurate. There may be another round or two of Denver foreclosures in 2009 but for now, this is great news for the Denver real estate market.
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