Mesa County foreclosure pace fastest among metro counties
Foreclosure activity continues to increase in Mesa County at a proportionally faster pace than in any of the 11 other most populous counties in Colorado.
While the number of foreclosure filings in Mesa County fell from October to November, foreclosure sales were up. Compared to last year, year-to-date filings through November have increased nearly 46 percent even as sales have skyrocketed more than 217 percent.
According to the latest statistics from the Colorado Division of Housing, 147 foreclosure filings and 58 foreclosure sales were reported in Mesa County in November.
Filings constitute the beginning of the foreclosure process. Filings can be cured or withdrawn before properties are sold, however. Sales indicate how many properties have been sold at auction at the end of the process. Because of the period between filings and sales, the two don’t occur during the same month.
While the number of filings in Mesa County dropped nearly 18 percent from October, the number of foreclosures rose more than 9 percent. Compared to November 2009, filings are up 58 percent and sales are up 26 percent.
Year-to-date through November 2010, a total of 1,544 foreclosure filings and 911 sales have been reported in Mesa County.
Compared to the same 11-month span last year, filings are up nearly 46 percent and sales are up more than 217 percent.
Mesa County is the only of one of 12 metropolitan counties in Colorado to report a year-over-year increase in filings. Meanwhile, the proportional increase in sales is by far the largest among the 12 counties. Boulder County ranked a distant second with a 28.3 percent jump.
For November 2010, Mesa County reported one foreclosure sale for every 956 households, a ratio that ranks third highest among the 12 metro counties. Weld County reported the highest foreclosure rate at one sale for every 891 households. Pueblo County ranked second with one sale for every 950 households.
A total of 2,932 foreclosure filings and 1,195 sales were reported in the 12 counties for November 2010. Compared to the same month last year, filings rose nearly 5 percent while sales fell 21 percent to a 20-month low.
A six-month moving average reflects a downward trend in foreclosure activity over the past several months.
Year-to-date through November 2010, a total of 32,982 filings and 18,728 sales were reported in the 12 counties. Compared to the same span in 2009, filings decreased 10 percent and sales increased almost 15 percent.