Colorado Springs Area News
Foreclosure Activity Hits Multi-Year Lows Across Colorado
US housing data tracker CoreLogic reported this week that foreclosures fell slightly in September from a year ago, strengthening the sentiment that the housing recovery is still on solid footing. The report showed a slide in foreclosure activity statewide as well as in many individual Colorado markets, Colorado Springs and the Denver metro area included. Across Colorado, a total of 12,282 homeowners lost their homes to foreclosure in the twelve months ending in September, with 5,416 of those home seizures occurring in the Denver market.
A separate report from the El Paso County Public Trustee's Office showed that, with declines in September and October, foreclosures are now at their lowest pace in nearly a decade in Colorado Springs. Lenders issued notices of default to 128 borrowers in the Springs last month, representing a year-over-year decline of nearly 60 percent. It's also the fewest total foreclosure filings in the city since January 2004, when 103 notices were filed.