Weld County saw a 73 percent drop in October foreclosure filings when compared with the same month last year, according to data from the Colorado Department of Local Affairs’ Division of Housing, and foreclosure rates continued to drop across the state.
Foreclosure sales for October dropped by nearly 70 percent statewide — the largest year-over-year decrease since 2007, when the state’s monthly survey began.
Weld County’s decrease of 73.5 percent last month over October of last year was the greatest decrease of the 12 metropolitan counties listed in the survey, according to state numbers included in a news release.
“Foreclosure activity is quickly moving toward what we consider to be a ‘normal’ rate,” Ryan McMaken, an economist for the Colorado Division of Housing, said in the release.
In Colorado, foreclosure filings fell 6.7 percent from September to October of this year. Foreclosure sales rose slightly by 0.7 percent from month to month.
All 12 counties surveyed reported a decrease in foreclosure filings for the first 10 months of 2013, compared with the same time period last year. Boulder County reported the lowest foreclosure rate — 10,273 households per foreclosure — and Mesa County reported the highest — 846 households per foreclosure. Weld’s foreclosure rate was 4,056 households per foreclosure.
The Division of Housing’s monthly foreclosure report surveys foreclosure activity in the 12 metropolitan counties of Colorado.