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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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.