Foreclosure auction sales drop to 19-month low

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Foreclosure sales at auction in Colorado’s largest counties fell to a 19-month low during October as the mortgage industry slowed down action on foreclosures.

The Colorado Division of Housing reports that Foreclosure sales in Colorado’s 12 urban counties totaled 1,308 in October, down from September’s 2,111 and October 2009′s 1,518.

For the year to date through October, however, foreclosure sales in the urban counties were up 18.3 percent over the same period of 2009.

As for new foreclosure filings in the 12 biggest Colorado counties, the report says they rose 3.4 percent in October, to 3,059, from the September total of 2,959, but were down 5.4 percent from the October 2009 tally of 3,254. New filings in the first 10 months of 2010 were down 11.2 percent from the same months of last year.