Chicago Foreclosure Activity Dips In November

With the holidays I let RealtyTrac's foreclosure data slip by until now. They released the data almost 2 weeks ago. What it shows is a surprising dip in foreclosure activity in November - down 21% - as demonstrated in the graph below.

http://blog.lucidrealty.com/wp-content/uploads/2008/07/Chicago_Foreclosure_Activity1.jpg

As you can see November activity was the lowest it has been in several months and it breaks what looked like a gradual upward trend. And activity remains well below last year's elevated levels.

In addition, the preliminary data on the percentage of sales that are in foreclosure also appears low, down to 19.4% in November from 27.1% in October. However, since that is a preliminary number it is likely to rise a bit after the fact. Remember that we have already determined that 39% of November sales were distressed.

Chicago Foreclosure Sales

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