Colorado foreclosure filings fall 40.1%

April foreclosure filings in Colorado fell 40.1% from a year earlier, marking the fifth consecutive month where both foreclosure filings and sales declined,  according to the Colorado Division of Housing. In April, the state recorded 1,933 foreclosure filings, down from 3,228 a year earlier. Foreclosure sales at auction declined 11.2% during the month, dropping to 1,604 from 1,806 sales in April 2010. “It’s now been seven months since new foreclosure filings increased year over year, and three of those months showed drops of 30% or more,” said Ryan McMaken, spokesman for the Colorado Division of Housing. “On the other hand, foreclosure sales at auction are actually up in 2011 compared to what we saw during March and April of 2008 and 2009. The filings news is great, but there are still clearly many pending foreclosures left to deal with.” Every county in Colorado experienced a decline in foreclosure filings last month when compared to year-ago statistics, the report said. Colorado’s dramatic decline in new homeownership led to an upswing in apartment demand, resulting in a plummeting vacancy rate. The Colorado Division of Housing recently reported the state’s apartment vacancy rate fell 16.6% in the past year. Write to: Kerri Panchuk.