DataMarkets & Economy

Chicago foreclosure activity up from April to May, down annually

RealtyTrac's data finds national foreclosure rates have fallen for the eighth consecutive month
  • RealtyTrac reports foreclosure activity is below 2006 levels throughout the nation, but 18 states are still posting gains.
  • Jasper and Lake counties in Indiana both posted foreclosure activity gains surpassing 100 percent month-over-month in May.
  • Cook County saw an increase of 10.65 percent in foreclosure activity in May over April.

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A sure-fire sign of an improving real estate market is the fall of foreclosure activity, and luckily those trends are down throughout the nation for the eighth consecutive month, according to RealtyTrac's newly released data. Monitoring foreclosure activity throughout the nation down to a city level, the data showed that foreclosure activity is below 2006 average monthly levels. However, not all states are measuring equally. RealtyTrac reported 18 states and the District of Columbia posted a year-over-year increase in foreclosures. The highest foreclosure rates were seen in Delaware, Florida, Nevada, Maryland and New Jersey. A few metro areas witnessed gains in foreclosure activity as well, including Rockford, Illinois; Trenton, New Jersey; Tuscon, Arizona and St. Petersburg, Florida. In the city of Chicago, one in every 800 housing units was under foreclosure, or a total of 1,480, during the month of May. This is an 8.7 percent fall over May last year and a 7.32 per...