New data from the Colorado Division of Housing shows dramatic drops in both foreclosure filings and foreclosure sales for first-quarter 2013.
In Larimer County, foreclosure filings fell by 40.5 percent from 306 to 182 from first-quarter 2012 to the same period in 2013. Foreclosure sales also dropped, by 27.2 percent from 169 to 123.
Weld County’s foreclosure filings decreased by 36.7 percent from 412 to 261, while sales fell 35 percent from 260 to 169 year-over-year in the first quarter.
As a result, Larimer and Weld’s foreclosure rates dropped to 0.1 percent and 0.18, respectively.
The Division of Housing attributes the declines to the rapid increases in home prices that have been seen in many parts of Colorado, including Northern Colorado.
Price increases helped to bring many underwater borrowers out of negative equity situations while making it easier for delinquent borrowers to sell their homes, avoiding final foreclosure, according to the division.
Statewide, foreclosure filings were down 41.3 percent and foreclosure sales were down 30.5 percent. No county in Colorado showed a foreclosure rate higher than 0.5 percent during the first quarter.