Foreclosures strain housing market in August

By JONATHAN BILYK - jbilyk@shawmedia.com

Created: Saturday, September 22, 2012 5:30 a.m. CDT

The local housing market struggled forward in August, roiled by a surge in foreclosures and distressed properties in the Tri-Cities and Kane County.

According to the latest round of home sales data supplied by local real estate associations, homes sold in the Tri-Cities and Kane County increased sharply last month.

In the Tri-Cities, the number of homes sold jumped by 29 percent in August, compared with August 2011, according to data from the MainStreet Association of Realtors, a trade group representing Chicago area real estate agents.

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Foreclosures strain housing market in August

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