DENVER - The economy has had its lasting effects on the real estate market, but the market is finally bouncing back.
Ryan McMaken joined 9NEWS Thursday to discuss the latest foreclosure reports.
"Foreclosure filings are down 28 percent for the first half of this year compared to this time last year," McMaken said. "That's the biggest drop we've seen in a long time, and this is the second-lowest number we've seen since 2007."
Colorado differs from many other states.
"In Colorado, we don't have a lot of properties that no one wants to own," McMaken said. "There are a lot investors looking to buy properties, and those properties continue to maintain their values extremely well."
The foreclosure report shows that, as a state, things are moving in the right direction.
"A lot of lenders have slowed down the way they are doing foreclosures," McMaken said.
Although there are a lot of homes still in foreclosure, the percentage is steadily decreasing and looks promising for the second half of the year.
Xavier Walton contributed to this report.
(KUSA-TV © 2011 Multimedia Holdings Corporation)