New data from CoreLogic drives home just how much progress our housing markets have made in clearing out their foreclosure inventory.
The last 12 months have been highly encouraging ones for Chicagoland’s housing market, according to the latest Foreclosure Report from data firm CoreLogic.
From Sept. 2013 through Sept. 2014, CoreLogic reported, Chicagoland’s foreclosure inventory fell from 4.1 percent of all homes to just 2.5 percent, a decline of 1.6 percentage points (or 39 percent!). Additionally, there were 10,446 foreclosures completed in that timeframe, though the serious delinquency rate does remain high at 6.2 percent (the national average, for comparison’s sake, is 4.2 percent).
For a more detailed look at how Chicagoland compares with other metro areas, take a look at our graph below: