RealtyTrac: Colorado foreclosures declining - Orlando Business Journal:

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percent fewer home foreclosures in May than in and 15 percent fewer than theprevious May, reportee Thursday. Even so, Colorado climbed in RealtyTrac's foreclosure rankingb of the states, to No. 8 in May from No. 9 in Aprikl and No. 10 in because by its reckoning, othee state's foreclosure rates declined more rapidlgthan Colorado's. A total of 4,876 Coloradoi properties were in foreclosurein May, or one for everh 436 households, said an Irvine, Calif.-based marketer of foreclosed properties.
That was down from 5,4954 foreclosure properties in April, or one per every 387 Colorado's foreclosure-per-households ratio was better than the national average of oneper 398, RealtyTrac said. It said 321,480 U.S. properties were in foreclosurein May, down 6 percentg from April. Nevada again had the nation's highest foreclosurse rate in May, RealtyTrac said, with one in evert 64 households in some stage of theforeclosurer process. It was followed by California, Arizona, Utah, Michigan, Georgia, Colorado, Idahlo and Ohio.
Nationwide, "May foreclosure activity was the third highest monthon record, and marked the third straightt month where the total number of properties with foreclosurd filings exceeded 300,000 a first in the history of our report," James RealtyTrac CEO, said in a statement Thursday. "Whilre defaults and scheduled foreclosure auctions were both down from the previous bank repossessions, or REOs, were up 2 percent thanksw largely to substantial increases in several states, includiny Michigan, Arizona, Washington, Nevada, Oregon and New Saccacio said.
He said the company expects bank repos to spikse in the comingmonthse "as foreclosure delays and moratoriaa implemented by various state laws come to an Colorado officials -- as well as locap members of the real estate industry -- have long disputec the state's high position on RealtyTrac's monthlyy lists, arguing that its foreclosures are overcounted partly because Colorado' public trustees report foreclosures at each stage of the process. RealtyTra officials have said that their methodologyis fair. Colorad o ranked first on RealtyTrac'sd monthly list for most of 2006.
But Nevadz moved into the top spot in 2007 and has held it ever Colorado ranks lower in foreclosures onothed lists, including the 's quarterlg delinquency survey. The , for the first quarter of 2009, released May 28, showed that Coloradpo ranked 41st among the stateein past-due mortgages, and 26th in foreclosurese started. RealtyTrac's data for the firsrt quarter of 2009 showed Colorado hadthe 12th-highesty foreclosure rate in the nation for that three-montg period. .