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Foreclosure Activity in Chicagoland Down 58% in August

by Peter Thomas Ricci

Foreclosure activity in the Windy City remains high, but it’s fallen by a dramatic amount from 2012.

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Foreclosure activity in the Chicagoland area was down a whopping 58 percent year-over-year in August according to the U.S. Foreclosure Market Report from RealtyTrac, though the metropolitan area still has the fourth most foreclosure activity in the nation.

News was similarly promising at the state level, where Illinois saw foreclosure starts fall by 66 percent; but again, with 1 in every 725 homes receiving a foreclosure filing in Illinois, the state has the eight-highest foreclosure rate in the U.S.

For additional perspective on how much foreclosure activity has declined in recent months, check out our infographic below, which compares peak-forclosure activity for the largest metropolitan areas to August’s total.

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