Foreclosure slowdown: Not!

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Colorado Springs holds the dubious distinction as Colorado’s highest ranking city for new foreclosure filings during first quarter 2009.

The news was released this week in an Irvine, Calif.-based Realty Trac “Metropolitan Foreclosure Market Report.”

The data seemed to reflect similar findings by Public Trustee Tom Mowle which showed that El Paso County saw only a 5.9 percent uptick in new foreclosures last month – increasing from 1216 during March last year to 1,292 this year.

The city ranked No. 57 on a list of 203 of the country’s largest metropolitan centers with one in every 136 homes in the foreclosure pipeline. Denver followed closely at No. 60 with one of every 144 homes in some stage of foreclosure.

But the news wasn’t all bad. In fact, Denver’s total was down almost 46 percent, compared to first quarter 2008, and Colorado fell to 12th on the list of states with the highest foreclosure rates – good news when compared to the Centennial state’s No. 5 ranking during 2008.

Here’s a breakdown how zip codes ranked for the highest number of foreclosures: