Three reports issued Monday paint a grim picture of the Chicago area’s foreclosure crisis
November 22, 2010|By Mary Ellen Podmolik, Tribune reporter
Three reports issued Monday paint a grim picture of the Chicago area’s foreclosure crisis and signal that the local housing market’s recovery continues to bump along the bottom.
The uncertainty is likely to become more evident Tuesday, when the Illinois Association of Realtors reports existing-home sales for October. Preliminary figures show that sales of single-family homes and condos in the Chicago area fell about 14 percent in October from September, and that sales of distressed properties fell more than 22 percent from the previous month, according to data from the Chicago Association of Realtors.