Foreclosure filings and auction sales are down when compared with April of last year, even though unemployment in Colorado remains higher than the national average.
According to data released by the Colorado Division of Housing, foreclosure filings have decreased by 40.1 percent while completed foreclosures (sales) have fallen 11.2 percent.
However unemployment in Colorado as of March is at 9.2 percent, while the national unemployment is 8.8 percent.
Graphs released by the Division show April of 2009 having the highest peak for filed metropolitan foreclosures.
For the past two months, Arapahoe County has maintained the highest rates of foreclosure filings and sales--589 filings and 525 sales--but even they have experienced a 32.4 percent decrease in filings from 2010-2011.
Yet Division of Housing spokesman Ryan McMaken cautions that the state is still dealing with many pending foreclosures.
Maken told the Denver Business Journal:
It's now been seven months since new foreclosure filings increased year over year, and three of those months showed drops of 30 percent or more. On the other hand, foreclosure sales at auction are actually up in 2011 compared to what we saw during March and April of 2008 and 2009. The filings news is great, but there are still clearly many pending foreclosures left to deal with.
Decreases in new foreclosure findings were unanimous across every major metro county included in the monthly report. Smaller counties aren't included until the quarterly report.
This year's first quarterly report, released May 5, showed Colorado's overall new foreclosures down by 27 percent.
Read the full Colorado Division Of Housing report here:
Monthly Foreclosure Report April 2011