The Colorado Division of Housing closed the books on 2010 last night, and the final statewide foreclosure numbers aren’t pretty.
In 2010 there were 42,692 new forclosure filings in Colorado, which is the second highest on record behind the 46,394 filings in 2009. Foreclosure sales at auction, the event that completes the foreclosure process, were also the second highest on record. There were 23,891 foreclosure sales in 2010, which is a 16.9-percent increase over the 20,437 sales in 2009.
“The large number of sales in 2010 was the inevitable follow-up to the record number of new foreclosure filings in 2009,” said Division of Housing spokesman Ryan McMaken in a prepared statement. “The number of new properties put into the foreclosure pipeline in 2009 was so large that we knew we’d see an increase in foreclosure sales some time later. These foreclosure numbers are still closely connected to the increases in unemployment that began in late 2008.”
El Paso County accounted for 4,828 of the state’s 42,692 new foreclosure filings, or 11.3-percent. It was the second highest amount of foreclosures on record for El Paso County, although it was an 11.7-percent drop from the 5,470 foreclosures in 2009.
While that’s a positive trend, El Paso County had the fourth highest amount of foreclosures in the state. Only Adams, Arapahoe, and Denver Counties had a greater number of foreclosures in 2010, and each of those counties saw a greater percentage decline over 2009.
Here are the Colorado counties with the most foreclosures in 2010:
Year-over-year change: -11.8
Year-over-year change: -17.7
Year-over-year change: -13.4
4) El Paso
Year-over-year change: -11.7
Year-over-year change: -4.4
Year-over-year change: -17.8
Year-over-year change: -10.5
Year-over-year change: -12.8
Year-over-year change: 29.6
Year-over-year change: -11.9
Year-over-year change: -5.9