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86 IN THE NEWS Ohio Still Fifth in Foreclosures Despite Drop Ohio ranked fifth in the nation in fore- closure activity in July even after a 24-percent decrease from the prior year, according to recently released data from RealtyTrac. RealtyTrac's July 2014 U.S. Foreclosure Market Report showed one in every 839 hous- ing units in Ohio (0.12 percent) with some type of foreclosure activity, which is higher than the national average of 0.08 percent. "e Ohio markets have noticed an over- all reduction in sales volume since the first of the year, as well as reduction in foreclosure sales volume throughout the state," said Michael Mahon, EVP/broker at Ohio-based HER Realtors. "As prices continue to rise, our anticipation is that foreclosures will con- tinue to decline as homeowners experience restored, higher-equity levels." Ohio's foreclosure rate of 0.12 percent ranked the Buckeye State fifth in the nation, according to RealtyTrac. Ahead of Ohio in spots one through four, respectively, were Florida (one in 469), Maryland (one in 553), Nevada (one in 639), and Illinois (one in 747). Montana had the lowest foreclosure rate with one in every 25,337. Ohio's 24 percent year-over-year decrease in foreclosures was well ahead of the national average, which was 16 percent, according to RealtyTrac. July was the 11th consecutive month in which the foreclosure rate went down month-over-month in Ohio. According to the RealtyTrac report, one in every 1,203 housing units in the nation had a foreclosure filing in July. Overall, 109,434 housing units in the country were in foreclo- sure in July. July was the 11th consecutive month in which the foreclosure rate went down month- over-month in Ohio. South Dakota RANK: 43 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate JULY 2014 0.95% 0.66% 3.6 YEAR AGO 0.81% 1.04% 3.8 YEAR-OVER-YEAR CHANGE 17.9% -36.2% -0.2 Top County MCCOOK COUNTY 90+ Day Foreclosure Delinquency Rate Rate JULY 2014 1.09% 3.51% YEAR AGO 2.00% 3.67% YEAR-OVER-YEAR CHANGE -45.5% -4.3% Top Core-Based Statistical Area RAPID CITY, SD 90+ Day Foreclosure Delinquency Rate Rate JULY 2014 0.98% 0.93% YEAR AGO 0.97% 1.29% YEAR-OVER-YEAR CHANGE 1.6% -28.4% 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 July 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary July 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Wisconsin RANK: 27 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate JULY 2014 2.18% 1.40% 5.6 YEAR AGO 2.46% 2.08% 6.7 YEAR-OVER-YEAR CHANGE -11.5% -32.9% -1.1 Top County MONROE COUNTY 90+ Day Foreclosure Delinquency Rate Rate JULY 2014 2.56% 3.24% YEAR AGO 2.45% 3.84% YEAR-OVER-YEAR CHANGE 4.4% -15.8% Top Core-Based Statistical Area MARINETTE, WI-MI 90+ Day Foreclosure Delinquency Rate Rate JULY 2014 2.00% 2.04% YEAR AGO 2.71% 2.13% YEAR-OVER-YEAR CHANGE -26.4% -4.1% 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 July 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary July 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Alabama RANK: 34 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate JULY 2014 3.76% 1.00% 6.9 YEAR AGO 3.72% 1.33% 6.5 YEAR-OVER-YEAR CHANGE 1.1% -25.2% 0.4 Top County MACON COUNTY 90+ Day Foreclosure Delinquency Rate Rate JULY 2014 5.30% 2.62% YEAR AGO 6.07% 3.34% YEAR-OVER-YEAR CHANGE -12.7% -21.5% Top Core-Based Statistical Area 90+ Day Foreclosure Delinquency Rate Rate JULY 2014 4.73% 1.61% YEAR AGO 4.79% 1.60% YEAR-OVER-YEAR CHANGE -1.4% 0.9% MOBILE, AL 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 July 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary July 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. IN THE NEWS Economic Recovery Slow in Alabama; Housing Market Struggling While the state of Alabama has been slow to recover economically since the recession officially ended five years ago, recovery of the housing market in the state has struggled along with the rest of the nation so far this year, according to a special commentary on Alabama's economic outlook by the Wells Fargo Economics Group for September. In the commentary, Wells Fargo reported that Alabama's nonfarm payrolls at 4.7 percent below their pre-recession peak were the fourth worst of any state. Not only that, but Alabama's real GDP increased by only 0.8 percent in 2013, while the national real GDP grew at a rate of 1.8 percent for the same period. Poor performances in the public sector have been a major factor in Alabama's slow overall economic recovery, Wells Fargo reported. The total number of mortgage loan modifications in Ohio in Q2, comprising 4 percent of all mortgage loan modifications nationwide. Source: Lender Processing Services STAT INSIGHT 2,813