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ยป VISIT US ONLINE @ DSNEWS.COM 83 IN THE NEWS MSHDA: Michigan Housing Industry Poised for Positive 2014 e Michigan State Housing Develop- ment Authority (MSHDA) announced during its 16th annual Building Michigan Communities Conference that it projects increases in new housing starts, rising home prices, and a decline in foreclosures. "e economic and housing outlook in Michigan for 2014 is decidedly brighter than what we've seen at any time over the previous five years," said MSHDA executive director Scott Woosley. e MSHDA teamed with the Home Builders Association of Michigan and the Michigan Association of Realtors to develop its 2014 industry assessment. e groups believe Michigan will see a nearly 20 percent increase in new single- family housing starts. 2014 should see new construction on approximately 16,000 homes across the state, the highest since May 2008, according to the MSHDA. Longer-term projections estimate nearly 30,000 new housing starts by the end of 2016. e group also projects home prices will show gains in the year. First-quarter average sales prices are up nearly 10 percent, and local associations are reporting increases as high as 27.6 percent. March was the 24th consecutive month with an increase in sales price. "e state's housing industry is helping to spur Michigan's economic turnaround," Woosley said. "Consumer demand is getting stronger and consumer confidence is return- ing to prerecession levels. We're anticipating robust need for new housing construction throughout much of the state as we enter the building season." Housing inventory should also prove to be an encouraging avenue for growth. "In many areas of Michigan, housing inventory levels have decreased to five months or less from lev- els as high as 17 months, encouraging wary sell- ers to step into the market," the group found. Finally, the MSHDA projects that foreclosures will continue to drop, citing RealtyTrac statistics that found foreclosure filings dropped from 4,800 filing in April 2013 to 2,900 filing in March 2014. "Michigan's residential housing market is pointed toward a sustained period of growth portunity. "HUD will continue to work with state and municipal governments to ensure that no one is denied housing choice or hous- ing assistance because of his or her race." Under the terms of the newly reached agreement, Dubuque has eliminated its pref- erence system and will submit any changes to its Housing Choice Voucher distribution pro- gram to HUD for review. e city will also undertake outreach activities to underserved populations, increase and expand reporting requirements, comply with increased HUD oversight, and obtain fair housing training for core city employees. Kansas RANK: 31 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MARCH 2014 2.03% 1.20% 4.9 YEAR AGO 2.15% 1.68% 5.5 YEAR-OVER-YEAR CHANGE -5.4% -29.1% -0.6 Top County GEARY COUNTY 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 3.59% 2.90% YEAR AGO 4.23% 2.41% YEAR-OVER-YEAR CHANGE -15.3% 20.1% Top Core-Based Statistical Area ATCHISON, KS 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 3.72% 2.88% YEAR AGO 2.36% 4.06% YEAR-OVER-YEAR CHANGE 57.5% -29.2% 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 March 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary March 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Kansas Tim Ray, Broker Option Real Estate Services, Inc. 7912 Floyd Street Overland Park, KS 66204 816.682.3338 Cell | 866.584.1189 Fax tray@optionresi.com | www.optionkc.com Michigan James Criteser, CPDE REMAX PERRETT ASSOC. INC. 317 E Columbia Avenue, Battle Creek, MI 49015 269.441.5575 Direct 269.441.5246 Fax 269.209.7330 Cell www.realestateagentbattlecreek.com Jimmyparts@AOL.com PERRETT ASSOC. INC. Michigan RANK: 40 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MARCH 2014 2.11% 0.86% 7.5 YEAR AGO 2.54% 1.46% 8.8 YEAR-OVER-YEAR CHANGE -17.0% -41.1% -1.3 Top County GRATIOT COUNTY 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 3.98% 2.04% YEAR AGO 3.55% 2.40% YEAR-OVER-YEAR CHANGE 12.2% -15.2% Top Core-Based Statistical Area ALMA, MI 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 3.98% 2.04% YEAR AGO 3.55% 2.40% YEAR-OVER-YEAR CHANGE 12.2% -15.2% 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 March 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary March 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Short sales in March made up 2.8 percent of total sales in Iowa, according to RealtyTrac. KNOW THIS