New stats show improving housing market
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.
The full report is available on the Division of Housing blog: http://www.divisionofhousing.com
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.
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