Illinois Foreclosure Activity Trends Downward in May

Total foreclosure filings statewide down 20 percent from April

State’s foreclosure rate No. 11 in the nation

 

Illinois foreclosure activity was down in May to 10,942 properties with foreclosure filings, a 20 percent decrease from the previous month, but still 10 percent ahead of May 2008, according to RealtyTrac’s® latest U.S. Foreclosure Market Report. One in every 479 Illinois housing units received a foreclosure filing in May, the 11th highest state foreclosure rate in the nation for the month.

 

“Although Illinois foreclosures headed downward in May, they still rank among the nation’s highest,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state has lost more than 250,000 jobs during the past year and its unemployment rate continues to climb above the national average. This is likely the leading factor in Illinois’ foreclosure dilemma.”

 

Outranked by California, Florida, Nevada, Arizona, Michigan and Ohio, Illinois placed seventh highest in total foreclosure filings in May, reporting 10,942 properties with foreclosure filings. Georgia came in eighth with 10,516 properties with foreclosure filings. Completing the nation’s top 10 states for total foreclosure filings in May were Texas with 9,813 properties with foreclosure filings and Virginia with 5,385 properties with foreclosure filings. Combined, the top 10 states accounted for 75 percent of all foreclosure activity in the nation for the month.

 

Five counties accounted for 82 percent of state’s foreclosure activity for May

Cook County led all counties, reporting 7,000 properties with foreclosure filings for the month. Lake County posted the second highest total, where 605 properties with foreclosure filings were reported. Du Page County had the third highest total, reporting 539 properties with foreclosure filings, followed by Will County, where 482 properties with foreclosure filings were tallied. Kane County held the fifth highest total, where 400 properties with foreclosure filings were reported for the month.

 

Kendall County posts state’s highest foreclosure rate for May

Kendall County posted the highest county foreclosure rate in Illinois, with one in every 143 housing units receiving a foreclosure filing during the month. Cook County had the second highest rate, with one in every 310 housing units receiving a foreclosure filing. McHenry County posted the third highest rate, where one in every 318 housing units received a foreclosure filing during the month.

 

State contributes 3 percent to nation’s foreclosure activity for May

Foreclosure activity in Illinois represented 3 percent of the 321,480 properties with foreclosure filings reported nationwide in May. Total U.S. activity fell 6 percent from the previous month but was still nearly 18 percent ahead of May 2008. One in every 398 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is filed against a property during the month — which is extremely rare — only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

           Illinois Foreclosure Market Data by County – May 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Apr 09

% Chg May 08

 

 

 

 

 

 

 

 

 

 

United States

55,442

67,687

100,578

32,756

65,017

321,480

398

– 6.01

17.76

Illinois

0

3,139

0

4,827

2,976

10,942

479

-19.82

9.50

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

 n/a

-100.00

 n/a

Alexander

0

0

0

2

0

2

2,310

-33.33

 n/a

Bond

0

5

0

0

0

5

1,434

-16.67

 n/a

Boone

0

0

0

32

20

52

358

-5.45

271.43

Brown

0

0

0

0

0

0

 n/a

 n/a

n/a 

Bureau

0

2

0

5

0

7

2,224

-41.67

600.00

Calhoun

0

0

0

0

0

0

 n/a

-100.00

 n/a

Carroll

0

0

0

0

1

1

8,304

0.00

 n/a

Cass

0

1

0

4

0

5

1,191

25.00

 n/a

Champaign

0

14

0

26

13

53

1,584

12.77

152.38

Christian

0

0

0

2

0

2

7,694

-75.00

 n/a

Clark

0

0

0

0

0

0

 n/a

 n/a

-100.00

Clay

0

0

0

0

0

0

 n/a

 n/a

n/a 

Clinton

0

1

0

1

1

3

5,012

-40.00

50.00

Coles

0

2

0

5

9

16

1,460

0.00

77.78

Cook

0

2,337

0

2,773

1,890

7,000

310

-10.83

16.14

Crawford

0

3

0

0

0

3

2,985

200.00

 n/a

Cumberland

0

0

0

0

0

0

 n/a

 n/a

 n/a

De Kalb

0

13

0

47

53

113

342

11.88

88.33

Dewitt

0

2

0

2

0

4

1,883

 n/a

n/a 

Douglas

0

1

0

1

0

2

4,158

-33.33

 n/a

Du Page

0

98

0

314

127

539

665

-37.25

8.02

Edgar

0

1

0

5

0

6

1,469

500.00

500.00

Edwards

0

0

0

0

0

0

 n/a

 n/a

n/a 

Effingham

0

1

0

1

0

2

7,286

-60.00

 n/a

Fayette

0

0

0

1

0

1

9,290

-75.00

 n/a

Ford

0

0

0

0

0

0

 n/a

 n/a

 n/a

Franklin

0

6

0

14

0

20

920

25.00

1900.00

Fulton

0

1

0

9

0

10

1,648

25.00

 n/a

Gallatin

0

1

0

2

0

3

1,060

 n/a

n/a 

Greene

0

1

0

1

0

2

3,257

-50.00

 n/a

Grundy

0

0

0

2

1

3

6,118

-40.00

-93.62

Hamilton

0

0

0

1

0

1

4,078

0.00

 n/a

Hancock

0

1

0

1

0

2

4,601

0.00

 n/a

Hardin

0

0

0

0

0

0

 n/a

 n/a

 n/a

Henderson

0

0

0

0

0

0

 n/a

 n/a

n/a 

Henry

0

7

0

12

0

19

1,143

90.00

 n/a

Iroquois

0

0

0

0

0

0

 n/a

-100.00

 n/a

Jackson

0

0

0

1

0

1

28,349

-66.67

 n/a

Jasper

0

0

0

0

0

0

 n/a

 n/a

 n/a

Jefferson

0

5

0

0

9

14

1,252

0.00

-41.67

Jersey

0

0

0

4

0

4

2,448

-20.00

300.00

Jo Daviess

0

0

0

1

0

1

13,149

-87.50

n/a 

Johnson

0

0

0

0

0

0

 n/a

-100.00

 n/a

Kane

0

58

0

242

100

400

430

-41.35

-15.97

Kankakee

0

24

0

4

14

42

1,051

13.51

-66.93

Kendall

0

16

0

183

34

233

143

-16.79

308.77

Knox

0

2

0

4

8

14

1,713

-17.65

 n/a

La Salle

0

11

0

0

2

13

3,787

-87.00

-79.37

Lake

0

121

0

304

180

605

418

-18.46

10.40

Lawrence

0

1

0

0

0

1

7,145

 n/a

n/a 

Lee

0

0

0

2

4

6

2,465

-45.45

-40.00

Livingston

0

0

0

0

0

0

 n/a

-100.00

-100.00

Logan

0

4

0

5

0

9

1,337

200.00

800.00

Macon

0

4

0

13

3

20

2,604

-73.33

-72.22

Macoupin

0

4

0

8

0

12

1,841

-33.33

 n/a

Madison

0

33

0

2

41

76

1,543

-61.62

-53.66

Marion

0

0

0

0

1

1

18,407

-50.00

 n/a

Marshall

0

0

0

1

0

1

6,143

-66.67

 n/a

Mason

0

0

0

1

0

1

7,095

-50.00

 n/a

Massac

0

4

0

1

0

5

1,436

66.67

 n/a

McDonough

0

0

0

3

0

3

4,767

50.00

 n/a

McHenry

0

106

0

173

81

360

318

-7.22

22.45

Mclean

0

17

0

1

14

32

2,122

-38.46

-11.11

Menard

0

1

0

1

0

2

2,841

0.00

100.00

Mercer

0

0

0

4

0

4

1,830

100.00

 n/a

Monroe

0

3

0

3

5

11

1,162

-8.33

37.50

Montgomery

0

2

0

7

0

9

1,409

80.00

800.00

Morgan

0

2

0

8

1

11

1,423

0.00

-26.67

Moultrie

0

0

0

5

0

5

1,208

25.00

 n/a

Ogle

0

1

0

12

5

18

1,222

-33.33

500.00

Peoria

0

11

0

16

31

58

1,419

11.54

-25.64

Perry

0

0

0

2

0

2

4,871

 n/a

 n/a

Piatt

0

0

0

1

0

1

7,241

 n/a

n/a 

Pike

0

0

0

0

0

0

 n/a

 n/a

 n/a

Pope

0

0

0

0

0

0

 n/a

 n/a

-100.00

Pulaski

0

0

0

0

0

0

 n/a

 n/a

n/a 

Putnam

0

0

0

2

0

2

1,564

0.00

 n/a

Randolph

0

1

0

1

4

6

2,283

-33.33

-25.00

Richland

0

0

0

2

1

3

2,574

 n/a

 n/a

Rock Island

0

17

0

18

28

63

1,039

10.53

57.50

Saint Clair

0

36

0

2

64

102

1,123

-42.05

-48.22

Saline

0

0

0

1

0

1

12,783

-83.33

0.00

Sangamon

0

20

0

2

26

48

1,885

2.13

-9.43

Schuyler

0

0

0

0

0

0

 n/a

 n/a

n/a 

Scott

0

0

0

0

0

0

 n/a

-100.00

 n/a

Shelby

0

0

0

0

0

0

 n/a

 n/a

 n/a

Stark

0

0

0

1

0

1

2,809

-75.00

n/a 

Stephenson

0

1

0

13

1

15

1,479

200.00

1400.00

Tazewell

0

10

0

3

2

15

3,764

-69.39

-70.59

Union

0

0

0

3

0

3

2,706

200.00

 n/a

Vermilion

0

1

0

6

17

24

1,530

-64.18

-40.00

Wabash

0

1

0

2

0

3

1,956

200.00

 n/a

Warren

0

0

0

1

0

1

7,867

-75.00

 n/a

Washington

0

0

0

0

0

0

 n/a

-100.00

-100.00

Wayne

0

0

0

0

0

0

 n/a

 n/a

n/a 

White

0

0

0

0

0

0

 n/a

-100.00

 n/a

Whiteside

0

6

0

13

0

19

1,347

11.76

 n/a

Will

0

81

0

281

120

482

476

-52.88

-25.73

Williamson

0

5

0

6

0

11

2,691

-64.52

1000.00

Winnebago

0

30

0

194

65

289

432

-12.95

1.76

Woodford

0

2

0

1

0

3

4,967

-82.35

50.00

 

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