Home-flipping hits 22-year high, but profits narrow

Home flippers are making more deals than ever. But they are making less money on each one. Nearly 115,000 home flips took place during the first three months of the year, accounting for 9.6 percent of home sales — the highest rate since at least the start of the century, a report by Attom found. In the previous quarter, flips only represented 6.9 percent of home sales. Flips’ market share has now increased for five

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Illinois has highest foreclosure rate in the country

The foreclosure rate in New Jersey last month was third highest in the country, after Illinois and Florida, as the rate climbed nationwide for a sixth month in the wake of the Supreme Court’s scrapping a pandemic-era ban.  About 1 in every 1,923 Illinois homes faced foreclosure last month, while Florida’s rate was 1 in 3,180 and New Jersey’s 1 in 3,438, according to Attom Data. Across the nation, 1 in 6,675 homes was hit

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August foreclosures jump 27% after federal moratorium expires

An onslaught of home foreclosures swept the country after the government’s foreclosure moratorium expired July 31. Across the U.S., 15,838 properties had a foreclosure filing last month, up 27 percent from July. That is a 60 percent jump from a year ago, according to ATTOM’s August foreclosure market report. Illinois had the highest state foreclosure rate and Chicago the highest of any city with a population of more than 1 million. “We’ll continue to see

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