Are foreclosures on the rise in Colorado? (2024)

Are foreclosures on the rise in Colorado?

In Colorado, foreclosures rose by 595.2%, from 334 in the first six months of 2021 to 2,322 in the first half of 2022. The foreclosure rate in the state of one in every 1,073 homes ranks as the 22nd highest in the nation.

What is the foreclosure rate in Colorado?

Colorado

The 21st most populated state ranked 31st for highest foreclosure rate. Of Colorado's 2,491,404 housing units, 329 went into foreclosure, making for a foreclosure rate of one in every 7,573 homes.

What state has the highest foreclosure rate?

Where are the most foreclosures now?

States with the highest foreclosure rates were Illinois (one in every 791 housing units with a foreclosure filing); New Jersey (one in every 792 housing units); Ohio (one in every 991 housing units); South Carolina (one in every 1,081 housing units); and Nevada (one in every 1,090 housing units).

Are foreclosures increasing in the US?

Foreclosure starts up 219 percent from last year

A total of 117,383 U.S. properties started the foreclosure process in the first six months of 2022, up 219 percent from the first half of last year and up 19 percent from the first half of 2020.

What state has the most foreclosures 2022?

States that saw the greatest number of foreclosures starts in the first half of 2022 included, California (12,805 foreclosure starts); Florida (11,448 foreclosure starts); Tennessee (10,970 foreclosure starts); Illinois (8,411 foreclosure starts); and Ohio (6,987 foreclosure starts).

What city has the most foreclosures?

Also according to ATTOM's latest foreclosure report, among the 220 metro areas with a population of at least 200,000, those with the highest foreclosure rates in 2021 were Cleveland, Ohio (0.37 percent of housing units with a foreclosure filing); Las Vegas, Nevada (0.31 percent); Lake Havasu, Arizona (0.30 percent); ...

Where is the best place to find foreclosures?

What is the cause of foreclosures either occurring or not occurring?

Major reasons for foreclosures are:

Job loss or reduction in income. Debt, particularly credit card debt. Medical emergency or illness resulting in a lot of medical debt. Divorce, or death of a spouse or partner who contributed income.

Are Florida foreclosures increasing?

Compared to 2021, ATTOM realty said the foreclosure starts across all of the U.S., or the beginning of the foreclosure process, had gone up 219%. Repossessions by banks also increased, up 30% from 2021 and 113% compared to 2020 for January to June.