CDPS Blog

Seventh District Foreclosure Update

April 19, 2013

Recently, the news media have been discussing an uptick in the housing market. We document some of the positive effects we have seen in the Seventh District in a series of Foreclosure Graphs, shown here and available on our Foreclosure Resource Center website.

  • Start rates, which measure the pace at which homes enter foreclosure, have come down significantly. This is a positive for the housing market, since it implies less deterioration in the ability of homeowners to meet their mortgage obligations for reasons such as job loss, inability to borrow against home equity due to falling home prices, or rising loan payments.
  • Transition rates, which measure the pace at which foreclosures get resolved, are up.
  • Finally, the inventory rate, which reflects the proportion of mortgages currently in foreclosure, is decreasing.

1. Cook County, Illinois

Chart showing inventory rate, transition rate, and start rate for Cook County, IL

2. Milwaukee County, Wisconsin

Chart showing inventory rate, transition rate, and start rate for Milwaukee County, WI

3. Marion County, Indiana

Chart showing inventory rate, transition rate, and start rate for Marion County, IN

4. Wayne County, Michigan

Chart showing inventory rate, transition rate, and start rate for Wayne County, MI

5. Polk County, Iowa

Chart showing inventory rate, transition rate, and start rate for Polk County, IA

The views expressed in this post are our own and do not reflect those of the Federal Reserve Bank of Chicago or the Federal Reserve System.

Subscribe

Register to receive email alerts when new issues are published.

Subscription Signup

Your request has been submitted. Please tell us more about yourself.

Subscription More Info
Find Publications By:
Find Publications By:
Publication Date
to

Find or Reset
Having trouble accessing something on this page? Please send us an email and we will get back to you as quickly as we can.

Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

Copyright © 2020. All rights reserved.

Please review our Privacy Policy | Legal Notices