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CoreLogic: Foreclosure Inventory Down 20 Percent in July

by Peter Thomas Ricci

The latest National Foreclosure Report from CoreLogic highlighted a number of positive developments in the nation’s mortgage markets.

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The nation’s mortgage markets continued to improve in July, according to the latest National Foreclosure Report from CoreLogic, with foreclosure inventory, serious delinquencies and completed foreclosures all on the decline.

“Foreclosures and delinquency rates continued their rapid descent in July,” said Anand Nallathambi, president and CEO of CoreLogic. “Every state posted a year-over-year decline in foreclosures and serious delinquencies fell to the lowest level since December 2008.”

And what of here in Chicagoland? In the Windy City metro area, progress continues to be made. Though foreclosure inventory remains relatively high at 4.0 percent of all mortgaged properties, that’s down 2.1 percentage points from last year, and in the last 12 months, there were 21,180 completed foreclosures in Chicago; 8.4 percent of mortgage properties, though, remain in serious delinquency.

But how does our city compare with the rest of the nation? Take a look at our infographic below for some perspective:

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