Historical Foreclosure Stats for El Paso County
- El Paso County, Colorado, historical foreclosure stats go back to 1981. That year there were 587 foreclosures.
- The lowest they have ever been was in 1995 with 438 for the entire year.
- The S&L debacle in the in the '80's, created a recession that topped off in 1988, with foreclosures at an all time high of 3,476.
Our current recession and sub-prime market crash has produced an even higher amount of foreclosures than the '80's did. There are many reasons for those numbers to be higher:
- There are more people and homes now than in the '80's
- Prior to the sub-prime blow out, home affordability was at it's highest since the second World War.
- Unemployment numbers are higher now, too.
The following stats show increases over the years of the current recession.
But, more importantly, the agregate numbers for the current recession is over 26,000 homes in our county! That number far out reaches the agregate of foreclosures in the '80's, which came to about 20,000.
January 2010 had 2,195 foreclosures, compared to January 2009 totals of 2,250. There are a lot of families that have lost their homes. There are a lot of homes without any one living in them. It's blight on our neighborhoods, and a shame in our communities. Unfortunately, unemployment is high. But on the other hand, interest rates are low and home prices are low.
What will 2010 produce?