Colorado experienced a 58 percent drop in foreclosure starts and 54
percent drop in foreclosure completions in 2013 compared with 2012,
according to a national report released today.
Colorado handily beat the U.S. average, which showed a year-over-year
drop of 33 percent in foreclosure starts and a 31 percent drop in
foreclosure completions, shows the report by California-based RealtyTrac.
The biggest drop in the metro area was in the City and County of
Denver, which boasted a year-over-year drop of 72.5 percent for total
foreclosure activity, from the initial filing to the public trustee
sale, known as a REO.
Other counties showed similar percentage drops. Adams was down 65
percent; Arapahoe fell 70%; and Douglas and Jefferson were each down 69
In Colorado, one out of every 132 households was in some state of the
foreclosure process, while the national average was one out of very 96
In Colorado that equates to 0.76 percent of the total housing units, while the national average was 1.04 percent.
The Denver area was one of the first places in the country to be
swept up by the foreclosure spiral and for a number of years was
considered one of the foreclosure capitals in the U.S.
While Denver, Colorado and the entire country has is no longer caught
in the foreclosure twister, during the past eight years, including
2013, 10.9 million U.S. properties have started the foreclosure process
and 5.6 million have been repossessed by lenders through foreclosure,
according to RealtyTrac.