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Foreclosures Hit 9 Year Low in Colorado

 

Foreclosure activity decreased significantly in 2013 as Colorado had its lowest foreclosure level since 2004, according to the Colorado Division of Housing. The division also predicted Thursday that if current economic conditions continue in 2014, the next 12 months will continue to see declines, although foreclosures will likely fall more slowly in 2014 than in 2013. New foreclosure filings fell 46.3 percent in 2013, and foreclosure auction sales were down 41.4 percent. The Denver real estate market has grown and strengthened so much over the past few years that foreclosures have become relatively obsolete.

The Colorado housing industry is being driven by low interest rates, monetary policy, employment, and a lack of national recession. As more people look to Colorado as an ideal place to live, the amount of distressed properties has seemingly dropped in correlation.  

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