New stats show improving housing market

Foreclosure activity in Larimer and Weld counties is slowing amid new signs of a real estate recovery.

According to state data, new foreclosure filings were down in the first quarter compared with the same period a year earlier, declining by 3.8 percent to 318 filings in Larimer and by 17.8 percent to 412 filings in Weld.

Statewide, the number of filings reported by public trustees fell year-over-year in the first quarter from 8,079 in 2011 to 7,783.

Foreclosure filings numbers provide a view of how many borrowers have become seriously delinquent in their loans.
“Foreclosure activity continues to trend downward in Colorado, even when compared to early 2011 which itself saw a big drop from 2010 totals,´ said Ryan McMaken, spokesman for the Colorado Division of Housing. “Toward the end of 2011, we saw employment and home prices stabilize while home buying appeared to increase, so these foreclosure numbers likely reflect those factors.”

The full report is available on the Division of Housing blog: http://www.divisionofhousing.com
Also, new data from CoreLogic showed that both the foreclosure rate and the 90-day delinquency rate were down slightly across Northern Colorado in February.

In Fort Collins-Loveland, the foreclosure rate decreased from 1.22 percent in February 2011 to 0.85 percent this past February. The delinquency rate in Fort Collins-Loveland also decreased from 2.96 percent to 2.45 percent over the same period. Delinquency rates measure the percentage of loans that are 90 or more days delinquent.

In Greeley, the foreclosure rate from February 2011 to February 2012 decreased from 2.25 percent to 1.69 percent. The delinquency rate in Greeley also decreased from 5.69 percent to 4.66 percent in February.

Foreclosures were also down statewide, falling slightly from 1.83 percent to 1.47 percent, while the delinquency rate decreased from 4.58 percent to 4.08 percent.

National foreclosure rates decreased from 3.59 percent in February 2011 to 3.41 percent a year later. Delinquency rates also decreased nationally, from 7.76 percent to 7.24 percent in the same period.

More proof of a recovering housing market also came Thursday from the National Association of Realtors, which released an index of pending home sales showing a 4.1 percent increase nationwide in March.

The index rose to 101.4, up from 97.4 in February, the highest level since April 2010. The index also showed a 12.8 percent gain from March 2011.

Molly Armbrister covers real estate, banking and health care for the Northern Colorado Business Report. She can be reached at 970-232-3139, marmbrister@ncbr.com or twitter.com/MArmbristerNCBR
Advertising

Social Network

 
Facebook Icon
Twitter Icon
LinkedIn Icon