Foreclosure Filings Increased Nationwide in January 2014

Are things really getting better?  RealtyTrac recently released it’s Foreclosure Market Report for January of 2014.  Unfortunately, foreclosure filings increased 8 percent since December 2013 nationwide.  Perhaps the large increase is just because less foreclosures might have been filed over the holidays?  Who knows.  What we do know is that according to RealtyTrac, there were nearly 125,000 new foreclosure filings nationwide in January.

What’s more, Illinois had one of the highest rates of foreclosure filings in January.  Only Florida, Nevada and Maryland has more.  The top five were rounded out by New Jersey. 

On the bright side, to the extent you’re looking for a home, there might be some more inventory out there in the near future as a result of all of these foreclosures.