One of the reasons for our optimism is that delinquencies have dropped down to prepandemic lows as shown in this graph from Black Knight ’ s January Mortgage Monitor Report . That shouldn ’ t be much of a surprise given the strength of the job and housing market .
Chicago Shadow Inventory
The number of homes that are in the foreclosure process is holding pretty steady with only a 71 unit increase over last month . This pipeline of homes that might find themselves on the market sometime soon is ever so slowly trending up but it remains extremely low by historical standards .
The nation ’ s mortgage delinquency rate continues to improve and seems to have recovered from the pandemic
The number of homes in foreclosure in Chicago declined with the moratorium during the pandemic and doesn ’ t seem to be rising since .
MEET GARY LUCIDO
Gary Lucido is the President of Lucid Realty , the Chicago area ' s full service real estate brokerage that offers home buyer rebates and discount commissions . If you want to keep up to date on the Chicago real estate market or get an insider ' s view of the seamy underbelly of the real estate industry you can subscribe to Getting Real , learn more at : www . lucidrealty . com /
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