News & trendsMarket conditions

Illinois foreclosures up 19% year-over-year

by Joe Zekas on 11/16/12

RealtyTrac released its U.S. Foreclosure Market Report for October 2012 yesterday. The report shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 186,455 U.S. properties in October, an increase of 3 percent from September but still down 19 percent from October 2011.

According to the report:

One in every 356 Illinois housing units had a foreclosure filing in October, the nation’s third highest state foreclosure rate. A total of 14,899 Illinois properties had a foreclosure filing during the month, a 6 percent increase from the previous month and a 19 percent increase from a year ago — the 10th consecutive month where Illinois documented an annual increase in foreclosure activity.

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