Foreclosures in Denver made an impact on the vacancy rate for residential rental properties in the area in the final quarter of 2009. The vacancy rate rose to 5.5 percent in the October-December quarter.
The prices of newly built houses and residences under bank and government foreclosure homes list declined in Denver for the 2010 third quarter, particularly in the single family segment.
The surge in foreclosures in Denver and in other cities in Colorado reflects the weaknesses of HAMP. Completed foreclosures spiked by 54 percent in the state in April to a total of 6,686 units.
Home foreclosures in Denver slowed in 2009 and in January 2010, pushing up house prices. Denver posted the second biggest drop in foreclosure filings among the largest counties in Colorado in January this year.
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