Alas, some positive news in the housing market. Albiet, not great news but news pointing in the right direction. This is according to Realty Trac.
Foreclosure filings were reported on 257,747 U.S. properties in December, a decrease of nearly 2 percent from the previous month and down 26 percent from December 2009 — the biggest annual drop in foreclosure activity since RealtyTrac began publishing its foreclosure report in January 2005 and giving December the lowest monthly total since June 2008.
Illinois posted the fourth biggest state total, with 151,304 properties receiving a foreclosure filing in 2010.
As you can see Illinois was and is one of the worst when it comes to total foreclosures. However, unemployment is steadily going down and economic activity seems to be picking up. I think we are headed for a slow and steady recovery in housing. If you are on the fence about purchasing a home then please give me a call to talk. House values are crawling a long the bottom and interest rates are still low (although creeping up). Take advantage while the time is good because once prices and interest rates start going up you will regret it! Contact me at tylerfuhr@remax.net.
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