Colorado foreclosures
According to the Colorado Division of Housing, the rate of Colorado foreclosures has increased by 16 percent in 2008, although the rate of increase is less than it was in 2007.
There were 10,870 new Colorado foreclosure filings between April 1st and June 30th, 2008, bringing the total for the first half of 2008 to 22,500. Last year during the same period there were 19,460 foreclosure filings, with a total of 39,915 Colorado foreclosures for 2007 (a 40 percent increase over 2006). The State of Colorado predicts a smaller rate of growth for foreclosures during 2008, ranging from 10 to 20 percent.
There may be some areas doing better than others. Some counties had fewer foreclosure filings than they had last year. For example, in year-over-year comparisons between the first six months of 2007 and 2008, Denver and Pueblo counties had fewer foreclosure filings. Pueblo foreclosure filings dropped 4 percent from 745 to 715, while Denver foreclosure filings dropped 6 percent from 4091 to 3847. Adams County experienced a 4 percent increase in filings from 3190 to 3317. In recent years, Pueblo, Denver, and Adams Counties have experienced some of the highest rates of foreclosure activity and growth rates.
On the other hand, some other Colorado counties experienced large increases in their foreclosure filings. Douglas County had 49% more, and El Paso County had 48% percent more during the first half of 2008 than during the first half of 2007. Rates of increase in other Front Range counties ranged from 15 percent in Arapahoe County to 48 percent in Broomfield County.