Morning Minute: Foreclosure filings fall in Chicago area to lowest level since 2007

In the first half of 2013, new foreclosure filings in a six county Chicago area have been trending downward, falling more than 36 percent compared to a year ago and reaching the lowest levels since the second half of 2007, according to a new report from the Woodstock Institute.

Read more on the data from the Woodstock Insitute for details but here are some highlights from the report:

  • New foreclosure filings in the Chicago area fell to the lowest level since the second half of 2007.
  • Completed foreclosure auctions continue at high levels.
  • Foreclosure auctions are often concentrated in areas with high levels of long-term vacant homes.
  • The percent of foreclosure auctions that became bank-owned fell slightly.
Also find Chicago Tribune coverage with the article, “Chicago-area foreclosure filings fall 36% in first half.”

 

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