The percentage of homes in foreclosure in the Denver area Denver homes has almost hit the record set in 1988.
About 3.6 percent of the homes in the seven-county area were in foreclosure, compared to 3.8 percent during the previous housing collapse in 1988, according to a report released Tuesday by the Genesis Group.
Adams County had the highest foreclosure rate in 2007, at 5.9 percent, topping the 4.1 percent in 1988. Denver was next, at 5.4 percent, compared with 4.2 percent in 1988.
Genesis, in its 97-page report, graded the local new-home market, permit activity, foreclosures and lot supply with a D-minus. It gave the existing home market a D and the apartment market a B.
A national report prepared by RealtyTrac found that bank seizures of U.S. homes almost doubled in January as property owners failed to make higher payments on adjustable-rate mortgages.
In a state-by-state ranking, Colorado came in No. 5 in terms of missed payments and property seizures, RealtyTrac said.
Repossessions rose 90 percent to 45,327 last month from the same period a year ago, RealtyTrac Inc. said. Total foreclosure filings, which include default and auction notices as well as bank seizures, increased 57 percent.
