Did you know, the Chicago area now has the nation’s largest inventory of foreclosed homes, outpacing Miami, Los Angeles and Phoenix, according to a data compiled by RealtyTrac. Chicago had 118,776 homes owned by a bank or in the process of foreclosure in May. That compares with 86,745 in Los Angeles and 84,600 in New York City- the top three inventories in the nation. According to RealtyTrac, foreclosed properties are selling at a much slower pace in Chicago than most other metro areas. And now you know!
And thank you for making me Your Orange County Real Estate Connection.
Michael Caruso, Broker ABR ABRM CLHMS CRB CRS GREEN GRI
Past President, Orange County Association of Realtors (949) 753-7900