Illinois has 5th highest foreclosure rate in US
SPRINGFIELD, Ill. (WICS/WRSP) — Illinois had the fifth highest foreclosure filing rates in the country during the first quarter of 2019, according to a report.
ATTOM Data Solutions found that during the first three months of the year, one in every 489 Illinois properties received foreclosure notices.
Kendall and Madison Counties saw the highest foreclosure filing rates: one in every 312 properties.
Sangamon County is in the middle of the pack.
During the first quarter of 2019, 52 homes got foreclosed on.
That factors out to a foreclosure filing rate of one in every 1,754 housing units.
“Most of the foreclosures that you see are actually under the $60,000 price point,” said Philip Chiles, the managing broker and owner of Capital Area Real Estate. “We probably sell more of those homes and many other states and so, as a result, it just puts us at a higher number of foreclosures.”
Fifth in the nation may not seem good, but the state's foreclosure filing rate is actually down by 12% from this time last year.
Compared to Q4 of 2018, the state of Illinois’ foreclosure filing rate is down by 48%.