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Colorado 11th for January foreclosures

Colorado had the 11th-highest foreclosure rate in the nation in January, according to data released by RealtyTrac Inc.

Colorado foreclosures were down 19 % from December 2008 and down 37% from January 2008. It was the first time since December 2005 that Colorado has been out of the top 10 on RealtyTrac’s monthly report.

Colorado officials long have argued that the state is not ranked accurately on RealtyTrac’s monthly report. Because of the way Colorado reports foreclosures, they say, the same property may be counted multiple times under RealtyTrac’s methodology. RealtyTrac has denied this, saying its process is fair.

Regardless if the methodology is accurate or not, the fact that we are down 37% from last year is a very, very good thing.