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Freddie Mac Home Listings and Foreclosure Activities Declined in CO

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By : John Cutts    99 or more times read
The high number of foreclosure listings, including Freddie Mac home listings, contributed to Colorado being declared the 10th state with the highest number of foreclosure filings during the first half and the second quarter of 2010. However, the second quarter saw the state's foreclosure activities declining when compared with the first quarter of the current year.

The second quarter ending June 30, 2010 provided a total of over 15,000 foreclosure filings, including activities in all major areas like Aurora foreclosure listings. The figure represents a decline of 4.59% when compared with the first 2010 quarter. However, it also represents a rise of 4.73% when compared with the 2009 second quarter.

Second quarter figures showed homes under foreclosure listings in Colorado and dwellings in any phase of foreclosure having a ratio of one for every 141 households. The number has a very small difference when compared with the nationwide foreclosure rate, which is one in every 144 households. For the whole 2009 period, Colorado is tenth among states with the highest foreclosure activities.

Freddie Mac home listings and all types of foreclosed property listings continue to record high numbers in the whole U.S. However, second quarter figures showed a slight decline when compared with the first quarter. Almost 900,000 households have filings during the second quarter in the whole U.S. This translates to an almost 4% decline from the initial quarter of the year, but represents a less than one percent rise from the same period of 2009.

Real estate foreclosure listings in most areas of the country, including Colorado, eased down somewhat during the second quarter mainly because of lenders' decision to delay foreclosure proceedings for borrowers who have been delinquent in their mortgage payments. The high number of short sales and the launch of several initiatives for mortgage modifications also contributed to the slowdown in foreclosures, analysts reveal.

Colorado's housing market leaves a lot of room for improvement, local real estate observers have stated. The state is in a worse position than 40 other states. However, there is something to be said about it having a better housing industry condition than nine other states. Foreclosure listings, including Freddie Mac home listings, are expected to continue to pose problems for the state's housing market in the coming quarters.

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