Illinois foreclosure improvement lagging behind US average

  • Twenty-nine states had foreclosure rates below the national average.
  • There were 38,000 completed foreclosures in May 2016, according to CoreLogic – up 5.5 percent from April 2016, but down 6.9 percent year-over-year.
  • The Chicagoland metro's foreclosure statistics were worse off than the rest of the state's, with a foreclosure inventory of 1.3 percent and a delinquency rate of 3.8 percent in May.

Although still double the long-term average of 0.5 percent, the national foreclosure rate continued to fall to 1 percent in May, with many states seeing better outlooks than the national average in CoreLogic’s May 2016 National Foreclosure Report.