Real estate research firm CoreLogic has released its spring
2012 report on mortgage delinquencies, and its findings are great news for
Colorado: Denver has the lowest mortgage
delinquency rate of any of the 25 largest cities surveyed for the report.
In both the Denver metro area and the entire state of
Colorado, only 1.4 percent of all homes with mortgages were in foreclosure,
which generally means that three or more consecutive payments have been
missed. Only four states reported lower
delinquency rates – North Dakota, Nebraska, Alaska and New Jersey.
Chicago had the highest foreclosure rate of the 25 cities
surveyed, with 6.4% of all mortgages in foreclosure.
The spring report is a far cry from just a few years ago,
when Colorado actually led the nation in foreclosures per capita during 2005
and 2006. It certainly appears that we
have worked through the cycle, and as report after report declares the Denver
metro area to be a seller’s market, there are expectations of much better days
ahead.
