There has been an increase in the number of foreclosures for the month of June of 2012 in Chicago land area counties according to data that has been compiled by ILFLS.com. An increase in the number of foreclosures has been recorded relative to both the previous month of the same year, May of 2012, as well as the same month of the previous year which is effectively June 2011.
The total number of foreclosures in Chicago 7 county area for the month of June of 2012 was recorded to be 6,645 as against 6,440 for the month of May the same year. Punching in values, this turns out to be an increase of three percent over the month of May of 2012. A total of six counties experienced this increase in the foreclosure activity, with just one of them being an exception. The largest increase was recorded in the counties of McHenry, Lake and Kendall. Amongst the three of these, the biggest increase was witnessed in McHenry which saw foreclosures increasing by about twenty-three percent; 336 in June of 2012 from 273 in May of 2012. For Lake County, the increase stood at 21.41 percent as it totaled 618 foreclosures in June of 2012 as against 509 foreclosures in May of 2012.Kendall had 165 foreclosures in June of 2012 over 143 in May of 2012, attaining an increase of fifteen percent.
Comparing the month of June of 2012 with the month of June of 2011, it can be seen that the number of foreclosures in June 2011 stood at 6,032. However, the number of foreclosures in June 2012 was 6,645 which is an increase of approximately 10 percent over the same month in the previous year. McHenry, Kendall and Lake were again the top three counties in the number of foreclosures. McHenry topped the list with 224 in June of 2011 and increased by a gigantic 50 percent to 336 in June of 2012. This was followed by Kendall, increasing by 117 in June of 2011 to 165 in June of 2012, an increase of 30 percent. Then came Lake County, with 446 foreclosures in June of 2011 to 618 foreclosures in June of 2012, an increase of 27.8 percent. It is worth noting that although Lake County was the last in the list compiled of increases by percentage from last year, the absolute number of foreclosures was highest in Lake County as compared to the other two counties.
The increase in the foreclosure activity was not unexpected for June of 2012 and it comes down after a decrease in their number of filings previously that created a backlog which had to be dealt with.