Colorado foreclosures set record in ’07
December 13, 2007
DENVER ” As the nation continues to look for answers to the turbulent housing market, the number of Colorado foreclosures filed in the first nine months of the year set a record, a new report says.
County public trustees reported 9,500 foreclosure filings statewide in the third quarter, which put the total at 28,960 in the first nine months of the year, according to a report released Wednesday by the Colorado Division of Housing. That compares with 28,435 foreclosure filings in all of 2006.
There were 7,117 foreclosed homes sold during the third quarter, putting the total at 19,025 in the first nine months, the report stated. That compared with 15,112 in 2006 and 6,258 in 2003.
“We don’t think we have bottomed out yet,” Kathi Williams, director of the Colorado Division of Real Estate, told The Denver Post in Thursday’s editions.
The division has predicted the state is on pace to see a 30 percent overall increase for the year.