Denver leads nation in another housing category

Denver's Market is Hot...interesting aarticle from Denver Business Journal...

Denver's housing market is leading the nation in a variety of categories.

Homes here sell faster than homes in any other market, the market leads the country in rising home prices, and the housing inventory here is as low as any other place in the country.

And now, Denver leads in another residential real estate category: It's tops in the country when it comes to the percentage of homes in foreclosure that have positive equity.

In a new report by housing data firm RealtyTrac, the share of distressed properties in Denver with positive equity was 83.7 percent, which is a higher percentage than anywhere else in the country

That's ahead of markets like Austin, Texas (83.1percent), Honolulu (77.5 percent), and San Jose, California (77 percent). Nationally, the figure was 42.4 percent, according to RealtyTrac.

And Colorado leads all states with highest percent of distressed properties with positive equity at 72 percent, topping states like Alaska (69.8 percent) and Texas (66.4 percent).

“Many homeowners that found themselves upside down in their homes just a few years ago are finding that they are now in a much better position with equity to spare, based on the strong appreciation we have experienced over the last few years,” said Greg Smith, owner/broker at Re/Max Alliance in Denver, in a statement.