Foreclosures Rise -, NewsCenter17, StormCenter17, Central Illinois News-

Foreclosures Rise


CHICAGO (AP) -Foreclosures accounted for more than 29 percent of all Illinois home sales in the first quarter of 2011.

A report released Thursday by Irvine, Calif.-based RealtyTrac shows Illinois with 5,529 foreclosure sales with the average price just under $133,000.

Nationally, foreclosure sales accounted for 28 percent of residential sales in the first quarter.

Nevada had the highest percentage of foreclosure sales, at 53 percent. Foreclosure sales accounted for 45 percent of all residential sales in Arizona and California.

RealtyTrac said earlier this month that Illinois home foreclosure activity fell almost 16.6 percent in April compared to the previous month. But it says most of the slowdown can be attributed to delays in processing foreclosures rather than a housing recovery.

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