DENVER, COLO. -- In a report released Wednesday by the Colorado Division of Housing foreclosure auction sales have fallen to a 42-month low.
The report said foreclosure auction sales in Colorado's metropolitan counties were down by 28.3 percent from October 2010 to October of this year.
New foreclosure filings also fell in the state dropping 23.2 percent.
In El Paso County alone year to date foreclosure filings declined from 3966 to 2953, a 25.5 percent drop.
In the same period of time foreclosure sales also fell in El Paso County going from 2276 down to 1788.
It's a downward trend that many hope with continue.
In a release, Colorado Division of Housing spokesman Ryan McMaken said, "October's auction sales fell off more than expected, and it's pretty clear at this point that there's a well-established downward trend now in place."
He also said the division is cautiously optimistic the trend will continue.
The report found that the highest foreclosure rate was in Pueblo County, while the lowest was in Boulder County.
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