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News & trendsMarket conditions

Chicago-area home prices continue to rise year-over-year

CoreLogic

Home prices nationwide, including distressed sales, increased 5.6 percent in September 2014 compared to September 2013, according to the just-released CoreLogic Home Price Index (HPI). This change represents 31 months of consecutive year-over-year increases in home prices nationally. “Home prices continue to rise compared with this time last year but the rate of growth is ...

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

Chicago-area foreclosure rate continues to decline

East Garfield Park

Foreclosure rates in the Chicago area decreased 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-area foreclosures among outstanding mortgage loans was 2.57 percent for the month of August 2014, 40.6% below the August 2013 rate of ...

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Posted by Joe Zekas on October 23, 2014
News & trendsMarket conditions

Percentage of home sales for cash continues to fall

CoreLogic graphic

The following arrived via news release from CoreLogic: Cash sales made up 32.9 percent of total home sales in July 2014, the lowest share since August 2008, and down from 35.9 percent in July 2013. Month over month, the cash sales share was mostly flat, falling only one tenth of a percentage point from June ...

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Posted by Joe Zekas on October 15, 2014
News & trendsMarket conditions

Cash sales fall to a third of the home market

CoreLogic graphic

The following is from a CoreLogic news release: Cash sales made up 33 percent of total home sales in June 2014, the lowest share since September 2008 (considered the unofficial start of the financial crisis), and down from 36.3 percent in June 2013. While the cash sales share also fell month over month from the ...

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Posted by Joe Zekas on September 10, 2014
News & trendsMarket conditions

Chicago-area home prices up 7% year-over-year in July

Skyline view

From a CoreLogic news release: Home prices nationwide, including distressed sales, increased 7.4 percent in July 2014 compared to July 2013. This change represents 29 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, increased 1.2 percent in July 2014 compared to June 2014.* Excluding ...

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Posted by Joe Zekas on September 3, 2014
News & trendsMarket conditions

Chicago ranks highest in distressed property sales

CoreLogic graphic

The following arrived via news release from CoreLogic: Distressed sales (REO and short sales) accounted for 11.4 percent of total home sales in June, the lowest share since December 2007 and a strong improvement from the same time a year ago when this category made up 15.8 percent of total sales. Within this category, REO ...

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Posted by Joe Zekas on August 21, 2014
News & trendsMarket conditions

Chicago-area home price increases outpace national average

Embassy Club

CoreLogic released its June Home Price Index (HPI) report yesterday. Home prices nationwide, including distressed sales, increased 7.5 percent in June 2014 compared to June 2013. This change represents 28 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, increased 1.0 percent in June 2014 ...

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Posted by Joe Zekas on August 6, 2014
News & trendsMarket conditions

Foreclosure, delinquency rates down sharply in Chicago metro area

CoreLogic graphic

Foreclosure rates in the Chicago – Naperville – Arlington Heights metro decreased for the month of May over the same period last year, according to newly released data from CoreLogic. The CoreLogic data reveals that the rate of Chicago-area foreclosures among outstanding mortgage loans was 2.82 percent for the month of May 2014, a 41% ...

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Posted by Joe Zekas on July 23, 2014
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