Nationally, the number of homeowners falling behind on their mortgages in May was at its lowest level since 2006. But experts say it’s a far cry from a turnaround in the housing market. And despite lower numbers, Colorado is still among the top ten states for foreclosures.
The single-family rental vacancy rate in the metro Denver area has fallen to an all-time low. And while demand for the properties is high, rents aren’t keeping pace with inflation.
The vacancy rate for single-family homes, condos and other small properties across metro Denver fell to 1.4% in the first quarter of the year. That’s compared to 3.1% for the first quarter of 2010. Colorado Division of Housing Spokesman Ryan Mcmaken says in spite of declining vacancies, rents are largely flat across the metro area.