Metro Denver is seeing less and less foreclosure filings and foreclosed properties. As reported by the Business Journal,
"The number of foreclosure auction sales in Colorado's metro counties fell to a six-year low in August, and foreclosure filings dropped 1.6 percent from August of 2011."
Less foreclosure filings are a good thing because it means homeowners are making payments on their mortgages. For buyers the news isn't so good, because anyone who is trying to buy a home in today's market are finding it difficult. The shortage of listings to purchase is driving up prices. Again good for sellers not so good for buyers!
Buyers looking for a good deal should consider looking in the Counties where the foreclosure sales aren't decreasing so fast. Pueblo County has a foreclosure rate of one in every 574 homes. Mesa County is next with one per 752 households. Boulder County has to lowest rate, at one foreclosure sale per 2,390 households.
The Counties with the larges decrease in foreclosure auctions, compared year to year are Douglas (37.9%) and Denver County (37.2%).
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