Chicago is one of the most popular cities for people to purchase foreclosed homes. With the latest housing market data, here are some statistics on how the trend has been changing.
- The number of active foreclosure listings in Cook County dropped by 12.92% this month.
In December 2021, there were 265 new foreclosure cases filed in Great Chicago area. It was 10.17 less than the filed in November 2021.
For comparison in the rest of the Grand Chicagoland suburban area there were 76 new foreclosures, with 1.30% less than November 2021.
Chicago Foreclosure Activity
The Cook County area has seen a significant drop in the number of foreclosures this month. This is according to the latest housing market data which was collected from December 2021.
In December 2021, there were 265 new foreclosure cases filed in Great Chicago area. It was 10.17 less than the filed in November 2021 and 12.92% lower than October's numbers.
This recent decrease goes against the trend of an otherwise steadily increasing housing market, which is not uncommon for a winter month to see a decrease in activity due to the holiday season and colder weather conditions that discourage home buying activity.
Despite some seasonal fluctuation, it's clear that Chicago's housing market is improving significantly since last year. We hope to see this continue!
Latest Trends
in Foreclosures
The housing market in the Chicago area has been on the rise again after it's dip in 2016. Cook County has finally seen a marked increase in active listings, with 12.92% more homes for sale than last month.
As of December 1, there were 265 new foreclosure cases filed in Great Chicago area. This amounted to 10.17% less than filed in November 2021. For comparison, the rest of Grand Chicagoland suburban area had 76 new foreclosures with 1.30% less foreclosures filed this month than last month.
Market Data.
In December 2021, there were 265 new foreclosure cases filed in Great Chicago area. It was 10.17 less than the filed in November 2021.
For comparison in the rest of the Grand Chicagoland suburban area there were 76 new foreclosures, with 1.30% less than November 2021.
Here is a snapshot of the latest numbers for December 2021.
County foreclosures in Chicago area and suburbs
Cook County, IL had the most foreclosures filings with 182. It was 12.92% less than November 2021.
Will County, IL had the second most number of new foreclosures with 23. It was 27.78% increase to November numbers.
Lake County, IL had the third most number of new foreclosures with 21.
DuPage County, IL had the fourth most number of new foreclosures with 16. It was 27.27% less than November 2021.
Kane County, IL had the sixth most number of new foreclosures with 7. It was 61.11% less than November 2021.
McHenry County, IL had the fifth most number of new foreclosures with 14. It was 6.67% less than November 2021.
Other useful articles on past Chicago Foreclosure trends: