Overall, the Centennial State witnessed a total of 1,939 foreclosure filings in January. This was 28.2 percent lower than the same point in 2011, which had 2,699 filings, the report said.

"Foreclosure filings during January fell to levels well below any other January since 2008, and this continues a trend of diminished foreclosure filings activity that we’ve been seeing since the fall of 2010," said Ryan McMaken, a spokesman with the Colorado Division of Housing, according to the news source.

Foreclosure auction sales also dropped significantly, the report showed. A total of 1,150 sales were completed, which was a 23.3 percent decline year-over-year, as January 2011 witnessed 1,499 sales of this type. This is the lowest point since 2007.

RealtyTrac recently announced that foreclosure filings, which includes defaults, auctions and repossessions, increased by 3 percent nationwide in January. In total, 210,941 foreclosure actions occurred during the month.

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