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News & trendsMarket conditions

Completed foreclosures plummet in metro Chicago area

West Englewood

CoreLogic released its May National Foreclosure Report yesterday. According to CoreLogic, for the month of May 2014, there were 47,000 completed foreclosures nationally, down from 52,000 in May 2013, a year-over-year decrease of 9.4 percent. On a month-over-month basis, completed foreclosures were up by 3.8 percent from the 45,000 reported in April 2014. As a ...

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Posted by Joe Zekas on July 9, 2014
News & trendsMarket conditions

Metro Chicago home prices continue to rise

CoreLogic graphic

CoreLogic‘s April Home Price Index reflects prices that have continued to rise, and CoreLogic is projecting that prices will rise nationally 6.3 percent (+/- 1.5 percent) from April 2014 to April 2015. In Chicago-Naperville-Arlington Heights, home prices, including distressed sales, increased by 11.4 percent in April 2014 compared to April 2013. On a month-over-month basis, ...

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Posted by Joe Zekas on June 4, 2014
News & trendsMarket conditions

Chicago-area loan delinquency, foreclosure rates down sharply

CoreLogic foreclosure rates

According to statistics released yesterday by CoreLogic, the percentage of Chicago metro area mortgage loans that are more than 90 days delinquent fell sharply year-over-year in March, from 9.44% to 7.01%. During the same period the local foreclosure rate fell from 5.22% to 3.09%. Both rates are substantially higher than US averages, but that may ...

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Posted by Joe Zekas on May 28, 2014
News & trendsMarket conditions

Chicago-area home prices increase

CoreLogic HPI

CoreLogic released its March Home Price Index (HPI) report yesterday: In Chicago-Naperville-Arlington Heights, home prices, including distressed sales, increased by 11.3 percent in March 2014 compared to March 2013. On a month-over-month basis, home prices, including distressed sales, increased by 0.1 percent in March 2014 compared to February 2014. Excluding distressed sales, year-over-year prices increased ...

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Posted by Joe Zekas on May 7, 2014
News & trendsMarket conditions

Examining the risk of another housing bubble

Aerial view Uptown

CoreLogic just released its March MarketPulse report (PDF). The report examines the risk of another housing bubble in light of large price gains in many markets in 2013, looks at the relationship between high-end home sales and the health of the financial markets, points out that this year is widely expected to be the trough ...

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Posted by Joe Zekas on March 26, 2014
News & trendsMarket conditions

Chicago-area home prices up 12.6% year-over-year in January

CoreLogic HPI

CoreLogic released its January 2014 Home Price Index yesterday: In Chicago-Naperville-Arlington Heights, home prices, including distressed sales, increased by 12.6 percent in January 2014 compared to January 2013. On a month-over-month basis, home prices, including distressed sales, decreased by 0.3 percent in January 2014 compared to December 2014. Excluding distressed sales, year-over-year prices increased by ...

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Posted by Joe Zekas on March 5, 2014
News & trendsMarket conditions

Chicago still ranks high in foreclosures

Chicago aerial

Chicago ranked fourth among the 25 largest US metro areas in the percentage of mortgaged homes in foreclosure in January, according to data recently released by CoreLogic. The percentage of Chicago-area homes in foreclosure, 3.4%, declined a modest 2.1% year-over-year. Another index that housing troubles are not yet behind us is that 7.4% of Chicago-area ...

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Posted by Joe Zekas on February 28, 2014
News & trendsMarket conditions

CoreLogic reports Chicago-area home price surge

CoreLogic HPI

CoreLogic is reporting that home prices nationally increased 11% year-over-year in December 2013, the 22nd consecutive month in which home prices increased year-over-year. Single-family home prices, excluding distressed properties, in the Chicago area rose 12.4% year-over-year in December, the fourth-highest percentage increase among the largest metropolitan areas. Including distressed properties, Chicago prices rose 12.5% year-over-year, ...

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Posted by Joe Zekas on February 5, 2014
News & trendsMarket conditions

Chicago-area home prices up 12.4% year-over-year

CoreLogic HPI

The CoreLogic Home Price Index for November 2013 reports that Chicago-area single-family home prices were 12.4% higher than in November 2012. Chicago ranked fifth in percentage price increase, trailing Riverside-San Bernardino ( 23.2%), Los Angeles-Long Beach (20.7%), Atlanta (15.7%) and Phoenix (14.7%). Free registration is required to access the full report.

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Posted by Joe Zekas on January 8, 2014
News & trendsMarket conditions

Chicago-area foreclosure rates in sharp decline

Cabrini-Green row-homes

Foreclosure rates in Chicago-Naperville-Arlington Heights decreased for the month of October over the same period last year, according to newly released data from CoreLogic. The CoreLogic data reveals that the rate of Chicago-Naperville-Arlington Heights area foreclosures among outstanding mortgage loans was 3.70 percent for the month of October 2013, a decrease of 2.04 percentage points ...

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Posted by Joe Zekas on December 24, 2013
News & trendsMarket conditions

Chicago metro fifth in homes with negative equity

Aerial of north lakefront

According to a recently released CoreLogic report, 20.5% of all metro Chicago homes with a mortgage were worth less than the amount of the mortgage at the end of Q3 2013. That translated to 281,696 properties, down from 333,175 at the end of the second quarter of 2013. Of the 25 largest metro areas by ...

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Posted by Joe Zekas on December 18, 2013
News & trendsMarket conditions

Attention real estate data junkies

Calculated Risk graphic

For most people, the decision to buy a home is driven by the need for a larger or smaller home, a desire to move to a different neighborhood, pressure from family members and many other personal and practical considerations. There’s a small minority of buyers who consider a home purchase to be first, last and ...

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Posted by Joe Zekas on November 1, 2013
News & trendsMarket conditions

Chicago-area foreclosure rate plummets year-over-year

Englewood streetscape

Foreclosure rates in Chicago-Joliet-Naperville decreased 31.3% for the month of August over the same period last year, according to newly released data from CoreLogic. The CoreLogic data reveals that the rate of Chicago-Joliet-Naperville area foreclosures among outstanding mortgage loans was 4.25 percent for the month of August 2013, a decrease of 1.94 percentage points compared ...

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Posted by Joe Zekas on October 22, 2013
News & trendsMarket conditions

Chicago-area foreclosure rates down sharply

Aerial view

Foreclosure rates in Chicago-Joliet-Naperville decreased for the month of April over the same period last year, according to newly released data from CoreLogic. The CoreLogic data reveals that the rate of Chicago-Joliet-Naperville area foreclosures among outstanding mortgage loans was 4.89 percent for the month of April 2013, a decrease of 1.63 percentage points compared to ...

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Posted by Joe Zekas on June 25, 2013
News & trendsMarket conditions

Chicago foreclosure inventory decline badly lags national rate

East Garfield Park

According to data released yesterday by CoreLogic, of the nation’s 25 largest CBSAs, Chicago had the third highest number of completed foreclosures (20,113) in the twelve months ending in February 2013, trailing only Atlanta and Phoenix. Chicago’s foreclosure inventory declined 1.3% year-over-year while the national foreclosure inventory declined by 21%. Yesterday’s CoreLogic news release: According ...

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Posted by Joe Zekas on March 29, 2013
News & trendsMarket conditions

Chicago, Illinois poor performers on CoreLogic Home Price Index

CoreLogic HPI graphic

CoreLogic released its January Home Price Index report today: Home prices nationwide, including distressed sales, increased on a year-over-year basis by 9.7 percent in January 2013 compared to January 2012. This change represents the biggest increase since April 2006 and the 11th consecutive monthly increase in home prices nationally. On a month-over-month basis, including distressed ...

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Posted by Joe Zekas on March 5, 2013
News & trendsMarket conditions

CoreLogic Home Price Index ranks Chicago worst of 10 largest metros

CoreLogic HPI graphic

CoreLogic released its November Home Price Index report yesterday. The highlights: Home prices nationwide, including distressed sales, increased on a year-over-year basis by 7.4 percent in November 2012 compared to November 2011. This change represents the biggest increase since May 2006 and the ninth consecutive increase in home prices nationally on a year-over-year basis. On ...

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Posted by Joe Zekas on January 16, 2013
News & trendsMarket conditions

CoreLogic – Illinois one of top states in foreclosures

Chicago Lawn

CoreLogic released its National Foreclosure Report for October yesterday. The report provides data on completed U.S. foreclosures and the overall foreclosure inventory. According to CoreLogic: There were 58,000 completed foreclosures in the U.S. in October 2012, down from 70,000 in October 2011 representing a year-over-year decrease of 17 percent. On a month-over-month basis, completed foreclosures ...

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Posted by Joe Zekas on December 4, 2012
News & trendsMarket conditions

Home prices up nationally, down in Chicago metro

CoreLogic graphic

CoreLogic today released its September Home Price Index (HPI®) report. Home prices nationwide, including distressed sales, increased on a year-over-year basis by 5 percent in September 2012 compared to September 2011. This change represents the biggest increase since July 2006 and the seventh consecutive increase in home prices nationally on a year-over-year basis. On a ...

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Posted by Joe Zekas on November 6, 2012
News & trendsMarket conditions

Positive news on the negative equity front

CoreLogic graphic

According to the latest CoreLogic statistics, 30.1% of all homeowners with a mortgage in the Chicago-Joliet-Naperville area owed more on their homes than they were worth, i.e. they were in “negative equity” territory. That’s the bad news. The good news is that there was a significant decrease in the number of local homeowners in negative ...

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Posted by Joe Zekas on September 13, 2012