Denver Has Lowest Shortsale And Foreclosures In US

Dated: 07/04/2016

Views: 155

Metro Denver reported the lowest share of distressed home sales out of 25 major metro areas in March, according to a report from CoreLogic.

Nationally, distressed sales accounted for 9.9 percent of all home sales in March, with foreclosure sales at 6.7 percent and short sales at 3.2 percent. Baltimore had the highest share of distressed sales at 19.8 percent, followed by Chicago at 19 percent and Tampa at 18.6 percent.Distressed sales include bank sales of homes in foreclosure and short sales, where lenders accept a payout below the amount owed on the mortgage. They represented 2.3 percent of all home sales in metro Denver in March, with foreclosure sales at 1.5 percent and short sales at 0.8 percent of the total.

In January 2009, nearly half of all home sales in the Denver-Aurora-Lakewood market were distressed, according to CoreLogic. But strong population gains, combined with insufficient home construction, have boosted prices.

Higher home equity has allowed borrowers in trouble to pay off their mortgages, and a shortage of homes for sale has allowed for faster sales. Distressed sales now represent only one out of every 43 home sales in the Denver area.

Denver Colorado Real Estate Professional -Michael Steffen

Michael is a motivated realtor specializing with investors and new home buyers located in the following areas; DenverArvada,Aurora and surrounding areas. Michael Steffen uses advanced internet marketing to insure your property gets maximum exposure and holds a high value of ethics in his work to ensure the ideal scenario for everyone! For help with buying or selling a property call 303-981-2750!

eNewsletter Sign Up

Blog author image

Generation Property Group

My name is Michael Ross Steffen. I’m an Exit Realty Cherry Creek Agent in the Denver metro area and Team Leader For Generation Property Group! We specialize in advanced Internet marketing, buying, s....

Latest Blog Posts

Neighborhood of the Week! Wash Park!

Our featured neighborhood of the week is Washington Park! With luscious landscaping, two lakes, and friendly atmosphere we think Wash Park is the absolute prime location for Denver Real Estate.

Read More

Take a Hike!

As much as we love the Denver real estate market we also love spending time with our loved ones outdoors! Here are our top favorite hiking trails not far from Denver. Lair O the Bear A

Read More

Top Home Decor Trends for 2020

If you love decorating your home as much as we do, you'll love these Denver real estate market trends for 2020.Spice Up The Bathroom.Since bathrooms are typically small.. it's a great space to

Read More

When Should I Buy A Home?

When is a good time to buy a home? We always say.. the best time to buy a home is when you can afford it. Buyers should always explore their loan options by taking a look at interest rates if they

Read More