Chicago Foreclosure Activity Continues To Surpass 2009 Levels

RealtyTrac just released their foreclosure stats for September and it shows that Chicago foreclosure activity continues to run way ahead of 2009. To be exact, September activity was 69% higher than last September, though it was actually down slightly from July and August. However, at this point I don't have any reason to believe that foreclosures should be a seasonal phenomenon so I'm not sure these year over year comparisons are relevant.

Chicago Foreclosure Activity

In addition, RealtyTrac released their preliminary September foreclosure sales data. I say "preliminary" because as they collect additional data these numbers rise over the course of the next month. At this point they are reporting that almost 24% of September sales were in some stage of foreclosure.That number will probably ultimately rise to 29% or so. However, as I previously reported, we already know that a whopping 44% of September sales were distressed properties - either bank owned or short sales. Since I pulled those numbers myself I have greater confidence in them.
Chicago Foreclosure Sales

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