Foreclosure auction sales were down 26 percent in Colorado during the first half of 2012 compared with the first half of 2011.
According to a report released Thursday by the Colorado Division of Housing, auction sales during the second quarter hit the lowest level reported since the division began compiling foreclosure data in 2007.
There were 8,005 foreclosure auction sales during the first half of 2012 and 10,938 foreclosure auction sales in the first half of 2011. Foreclosure sales occur once a foreclosure has proceeded through the full process to final sale at public auction.
“A year after 2011’s big drops in new foreclosure filings, we’re now seeing foreclosure auction sales really drop off too,” said Ryan McMaken, spokesman for the Colorado Division of Housing.
McMaken said new foreclosure filings increased slightly during the first half of the year, rising 2.8 percent from the first half of 2011 to the same period this year. During the first half of this year, 15,844 new filings were reported, which puts Colorado on pace to finish the year with the lowest foreclosure-filings total since 2006.
