Remember when Colorado led the nation in foreclosures per capita in 2006? Or when we were 7th in 2007? Although there are still troubled spots in certain areas (mostly outlying suburbs), the "big picture" continues to get brighter and brighter for the Denver metro area.
RealtyTrac's third quarter foreclosure filing data was released this morning, and the Denver region now ranks 47th among the nation's largest metropolitan areas for new foreclosure filings with 0.89% of homes in some stage of the foreclosure process. Las Vegas, ranked at the top of the survey, has 5.13% of its housing inventory in some stage of the foreclosure process.
Third quarter filings in Denver were down 1.58% from a year earlier, despite the downturn in the economy over the past 12 months. By comparison, foreclosure filings were up 105% in Salt Lake City, 80% in Reno, and 53% in Las Vegas during the same time.
Cities in California, Arizona, Nevada and Florida accounted for 19 of the top 20 foreclosure hot spots in RealtyTrac's report. Greeley, at number 33, was the worst performing Colorado region on the list.