The number of foreclosures reported in Madison County is up from last month, and at the highest level its been so far this year. In June there were 172 foreclosures reported by the Madison County Circuit Clerk...up from 112 in May which was the lowest number all year. Real estate officials say the struggling economy is the main culprit for the fragile housing market.
Nationally, the number of foreclosures is on the decline, but in Madison County the numbers could actually turn out higher than in 2011. So far this year, there have been 863 foreclosures compared to 591 after the first half of last year in Madison County. In Illinois, the number of foreclosures is up 22-percent from this time last year according to numbers released by the group RealtyTrac. The national numbers are down by 11-percent from the same time period in 2011.