Colorado foreclosure rate dropping

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Colorado foreclosures fell during October, both from the previous month and from a year ago, according to RealtyTrac’s U.S. Foreclosure Market Report. A total of 5,047 Colorado properties were in foreclosure during October, down 18.75 percent from September and down 6.08 percent from October 2008.

Colorado saw one foreclosure filing for every 421 homes during October, the 11th-highest rate in the nation among the 50 states, down from ninth during September and eighth during August.

But Colorado’s relatively high ranking among the states is misleading, because the top few states on the RealtyTrac list accounted for most U.S. foreclosures during October.

Colorado’s foreclosure rate as calculated by the company was better than the one-in-385 rate for the nation as a whole.

RealtyTrac said four states accounted for 52 percent of the nation’s total housing foreclosure activity in October: California, Florida, Illinois and Michigan.

Click here to view the full report.

One Response to Colorado foreclosure rate dropping

  1. That’s something good for a state that have been suffering from crisis recently

    November 13, 2009 at 9:33 am