Colorado’s rising foreclosure rate shows no sign of abating, according to a first quarter count from the Colorado Division of Housing.
Public trustees in 51 of the state’s 64 counties reported 9,254 foreclosures started in the first quarter.
If that pace continues, Colorado will record more than 37,000 foreclosures this year, about 30 percent above the 28,453 recorded in 2006, which was 31 percent higher than 2005.
“I thought I would see some moderation and flattening,” said Ryan McMaken, a housing division spokesman who compiled the report. “We will exceed last year’s numbers.”
As was the case last year, foreclosures remain concentrated along the Front Range with Adams, Weld, Arapahoe, Denver, and Pueblo counties the hardest hit areas.
In Adams, 1 out of 98 households entered foreclosure during the first quarter, while in Weld County it was 1 in 124.
In some counties, such as Douglas, foreclosures are trending lower, and across much of the Western Slope they aren’t a problem.
