Colorado Short Sale Statistics

Colorado Short Sale Statistics

There were 4,843 foreclosure properties in Colorado for the month of May. This equates to 1 in every 444 housing units according to Realty Trac. Unemployment in Colorado was 8.0% in May.

The top five states for Foreclosure activity are:

                                                                            Unemployment (%)

California - 72,030                           1 in 185                    12.4

Florida - 50,685                               1 in 173                    11.7

Michigan - 20,322                            1 in 223                    13.6

Arizona - 16,097                              1 in 169                    9.6

Illinois - 15,061                               1 in 350                    10.8

Compared to the five bottom states for Foreclosure

Vermont - 19                                   1 in 16453                6.2

North Dakota - 66                            1 in 4747                  3.6

Wyoming - 102                                1 in 2415                 7.0

West Virgina - 114                           1 in 7775                  8.9

South Dakota - 168                          1 in 2151                  4.6

The thing I find very interesting about this table is the correlation between unemployment and Foreclosures. If we want to stop the downward spiral we need to create more jobs. A jobless recovery is not going to get it done. It looks like North and South Dakota have it figured out. What are they doing?