Boulder County has lowest foreclosure rate
Boulder County had 19 foreclosure sales, or one for every 6,283 households, the report said. Broomfield County had the second-lowest rate of foreclosure sales in February: four sales, or one for every 5,490 households.
Mesa County had the highest rate of foreclosure sales during February with one for every 1,022 households per foreclosure sale.
Foreclosure filings in Colorado's metropolitan counties were down 43.6 percent during February, falling year over year to the lowest level recorded in any month since the Division of Housing began collecting monthly totals in 2007.
Foreclosure auction sales in Colorado's metropolitan counties were down 41.9 percent in February compared with February last year, falling from 1,248 to 725. Over the same period, foreclosure filings dropped from 2,056 to 1,160.
For the first two months of the year combined, from January through February, foreclosure filings were down 34.5 percent in 2013 when compared with the same period last year. Foreclosure auction sales were down 31 percent over the same period.
Foreclosure filings are the initial filing that begins the foreclosure process, and foreclosure auction sales totals are the number of foreclosures that have been sold at auction at the end of the foreclosure process.
"There are few ways to describe this other than as a big drop-off in foreclosure filings," said Ryan McMaken, an economist for the Colorado Division of Housing. "It's getting easier to sell a house to get out of trouble. Low mortgage rates and low inventory continue to be big factors."
The full report is available on the Division of Housing blog: http://www.divisionofhousing.com/.
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