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Mesa County reports highest foreclosure rate among metro counties in Colorado

With year-over-year increases in property foreclosure filings and sales, Mesa County continues to experience the highest foreclosure rate among metropolitan counties in Colorado.

According to the latest statistics from the Colorado Division of Housing, Mesa County reported 140 foreclosure filings and 67 foreclosure sales in June. Compared to the same month last year, filings jumped nearly 92 percent and sales rose almost 12 percent.

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 Filings can be cured or withdrawn before properties are sold, however.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 foreclosure process. Because of the period between filings and sales, the two don’t occur in the same month.

Through the first half of 2012, Mesa County reported 686 foreclosure filings and 421 sales. Compared to the first half of 2011, filings increased almost 31 percent, although sales dropped nearly 10 percent.

The foreclosure rate as measured by the number of households per completed foreclosure increased in June in Mesa County to one completed foreclosure for every 865 households. For the same month last year, the rate stood at one foreclosure for every 966 households.

Mesa County ranks first among 12 metropolitan counties in Colorado in terms of foreclosure rates. Pueblo County ranked second with one foreclosure for every 1,052 households, while Weld County ranked third with one foreclosure for every 1,138 households. Boulder County reported the lowest rate with one foreclosure for every 4,268 households.

 

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Posted by on Aug 2 2012. Filed under Business News, Trends. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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