Foreclosure rates in Colorado Springs decreased for the month of June over the same period last year, according to newly released data from CoreLogic.
The CoreLogic data reveals that the rate of Colorado Springs foreclosures among outstanding mortgage loans was 0.82 percent for June 2014, a decrease of 0.04 percent compared to June 2013 when the rate was 0.86 percent. Foreclosure activity in Colorado Springs was lower than the national foreclosure rate, which was 1.7 percent for June 2014.
Also in Colorado Springs, the mortgage delinquency rate decreased. According to CoreLogic data for June 2014, 2.46 percent of mortgage loans were 90 days or more delinquent compared to 2.97 percent for the same period last year, representing a decrease of 0.51 percent.
The national 90-day or more delinquency rate is 4.38 percent, down from 5.57 percent during the same time last year. The national foreclosure rate is also down significantly compared to the same time last year. The percentage of homes in foreclosure dropped from 2.5 percent in June 2013 to 1.7 percent this year.
A report released Tuesday by Irvine, Calif.-based housing data source RealtyTrac indicated that Colorado is in line with national trends related to cash and institutional investor foreclosure sales.
All-cash purchases of homes and condos in Colorado dropped slightly in the second quarter, to 22.4 percent from 22.7 percent the same time last year, compared to a average increase of 2.2 percent (35.7 to 37.9) nationally. But that fell from a first-quarter rate of 26.1 percent, according to the report.
Institutional investor sales fell from 3.1 to 1.7 year over year in Colorado during the second quarter, compared a drop from 5.8 to 4.7 percent nationally. That rate remained level from quarter one to quarter two of 2014.