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80 STATE OF AFFAIRS: MIDWEST » Illinois RANK: 7 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate JANUARY 2014 2.69% 3.37% 3.37% YEAR AGO 3.05% 5.49% 5.49% YEAR-OVER-YEAR CHANGE -11.7% -38.7% -38.7% Top County PIKE COUNTY 90+ Day Foreclosure Delinquency Rate Rate JANUARY 2014 3.30% 6.90% YEAR AGO 2.57% 10.84% YEAR-OVER-YEAR CHANGE 28.2% -36.4% Top Core-Based Statistical Area LINCOLN, IL 90+ Day Foreclosure Delinquency Rate Rate JANUARY 2014 3.85% 6.15% YEAR AGO 3.42% 9.25% YEAR-OVER-YEAR CHANGE 12.8% -33.5% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the January 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary January 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Illinois Re/Max Professionals 630.679.5417 Office 630.768.5175 Cell edjrsellsreos@wearepros.com 484 W. Boughton Rd., Suite C Bolingbrook, IL 60440 Follow my listings on Twitter: twitter.com/Ed_Lukasik_Jr www.elukasikjr.illinoisproperty.com Edward Lukasik Jr. Broker/ Owner IN THE NEWS Midwest Reflects National Cold Weather Woes Sales of residential homes in the seven-coun- ty metro of Chicago followed a pattern similar to January: rising prices, but the pace of sales slow when compared to the same month last year. According to an analysis by RE/MAX, bitter weather and a small inventory of homes for sale were the primary factors causing reduced sales activity. e report commented, "Mortgage interest rates, which remain comfortably under 5 percent for 30-year fixed- rate loans, continue providing stimulus to the housing market." e median sales price of attached and detached homes sold in the area rose 13 per- cent to $157,900 when compared to February of the previous year. Sold-home figures dipped 8 percent to 5,507 units, with those homes spending an average of 110 days on the market—33 days fewer than a year earlier. Foreclosures and short sale numbers dipped slightly compared to 2013, dropping from 49 percent in 2013 to the current figure of 45 percent. Foreclosed properties alone accounted for 33 percent of all February sales. "e median sales price for a foreclosure was $85,000, 9 percent more than a year ago," the report said. Illinois Posts Decrease in Home Sales, Increase in Price A new report issued by the Illinois Association of Realtors (IAR) found a decrease in home sales and an increase in median price in February. e IAR notes that median prices increased 6.9 percent, while home sales decreased by 6.2 percent last month. Statewide, home sales for February totaled 7,868, down from 8,388 in February 2013. e available inventory of homes on the market dropped 19.2 percent from the previous year. "e start of the year has been bedeviled by bad weather," said Phil Chiles, president of the IAR. "Increasing prices should prove attractive to homeowners who may have hesitated to sell in the past because they felt their homes were undervalued." e statewide median price for February was $132,500, up 6.9 percent from the previous year when the median price was $124,000. e state also experienced a monthly decrease in the average mortgage rate from the previous month. Rates for February were reported at 4.32 percent, down from 4.46 percent in January. Yearly, rates rose from the previous year's figure of 3.49 percent. e report commented, "In the nine- county Chicago Primary Metropolitan Statistical Area (PMSA), home sales (single- family and condominiums) in February 2014 totaled 5,574 homes sold, down 8.2 percent from February 2013 sales of 6,072 homes." Specifically in Chicago, the median home price was $156,000, higher than the statewide average. Chicago's median home price represented an 11.4 percent increase from February 2013. Home sales declined in the city by 3.5 percent year-over-year in February, with median prices increasing to $175,000 from $156,050 in February 2013, an annual increase of 12.1 percent. "February's weather was not any more welcoming to buyers than January in Chicago. People do not want to go shopping for homes in unseasonably cold weather," said Matt Farrell, president of the Chicago Association of Realtors. "Buyers are, however, ready to move and as homes come on the market, they are aggressively making their best offers. Median pricing is up, signaling a strong market on the rise. As sellers get their homes show-ready for a spring market, we believe these homes, too, will move quickly, if priced right," Farrell added. Indiana RANK: 17 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate JANUARY 2014 2.92% 2.39% 2.39% YEAR AGO 3.02% 3.57% 3.57% YEAR-OVER-YEAR CHANGE -3.2% -33.1% -33.1% Top County CASS COUNTY 90+ Day Foreclosure Delinquency Rate Rate JANUARY 2014 4.33% 5.23% YEAR AGO 4.63% 6.49% YEAR-OVER-YEAR CHANGE -6.4% -19.3% Top Core-Based Statistical Area LOGANSPORT, IN 90+ Day Foreclosure Delinquency Rate Rate JANUARY 2014 4.33% 5.23% YEAR AGO 4.63% 6.49% YEAR-OVER-YEAR CHANGE -6.4% -19.3% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the January 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary January 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics.