This seems inline with all of the other reports we've been seeing. the housing market should pick up in 2009.

From the Denver Business Journal:

Colorado foreclosures down 14 percent this year

Colorado foreclosure activity likely will be lower in 2008 than last year, according to a report published Thursday by state housing officials.

Completed foreclosures fell 14 percent in the first nine months of the year compared with the same period of 2007, according to a report by the Colorado Division of Housing. A total of 16,246 foreclosures were completed.

Officials are forecasting a 13 percent decline in foreclosures for all of 2008.

“2006 and 2007 saw big increases in foreclosure filings of 30 and 40 percent, so a 14 percent decrease so far this year makes us cautiously optimistic about the future,” said Kathi Williams, director of the Colorado Division of Housing, in a statement. “There are still many reasons for concern, but this is good news.”