market stats: Illinois foreclosure numbers fall in February - 03/10/11 08:11 AM
The number of homes in foreclosure plummeted in both Illinois and the U.S. in February, but despite the slowing flow, many analysts believe the foreclosure pipeline has not turned off yet. See Chicago Breaking Business News........
(Crain’s) — The number of Illinois properties facing foreclosure plunged in February compared with the same month last year, as the slow slog of foreclosure cases continues in the wake of the controversy over lenders’ collection efforts...Read more.......
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market stats: Decline in real estate sales greater than stated? - 02/16/11 06:40 AM
Statistics published by the National Association of Realtors appear to overstate sales of existing homes by 15 to 20 percent, mortgage and property data aggregator CoreLogic says in a new report that concludes home sales fell more sharply last year than previously thought. Rest of the story
 
I think the important point to look at is whether the factor the NAR uses to estimate off MLS sales is still valid.  It may or may not be,  only NAR statisticians know for sure.  
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market stats: Illinois foreclosure activity falls in January - 02/11/11 02:46 AM
A possible sign that lenders are taking longer to move against homeowners in the wake of the controversy over improper foreclosure procedures.Read more from ChicagoRealEstateDaily.com
 
Again these numbers can be interpreted different ways by different people.  
What was the true cause?
Will the numbers continue to fall?
 
 
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market stats: Consumer Confidence and Comfort Levels See Large Drop in February - 03/02/10 12:19 AM
The consumer confidence index fell to 46 in February from an upwardly revised 56.5 in January. Economists had anticipated a reading of 55. The index was benchmarked at 100 in 1985, a year chosen because it was neither a peak nor a trough in consumer confidence.
Why such a big drop?
Some say volatility is expected at economic turning points.  
"One report does not a trend make," said Carl Riccadonna, senior economist for Deutsche Bank in New York. "This is a yellow flag but not a critical development to be sure. At economic turning points, we often show volatile fits and … (0 comments)

market stats: S&P/Case-Shiller Chicago Home Price Indices - 03/01/10 12:17 AM
The Standard & Poor's/Case-Shiller 20-city housing price index rose a seasonally adjusted 0.3% in December. It was the seventh consecutive monthly gain and follows a 0.2% increase in November.  However, the rate of return is still negivtive. 
Only three cities - Detroit, Las Vegas and Tampa - still showed double digit annual rates of decline as of the end of 2009.
15 of the 20 metro areas showed a decline in December over November, with Chicago posting the sharpest decline, down 1.6%.
The annual rate for Chicago stood at -7.2%.

The Chicagoland area is still in a declining real estate … (0 comments)

market stats: Sales up in December 20% - 01/25/10 12:11 PM
In the state of Illinois...
This press release from IAR highlights some good numbers among all the bad news. 
The good:
"December 2009 were up 20.1 percent, totaling 8,197 homes sold compared to December 2008 sales of 6,823 homes, marking the fourth consecutive month of year-over-year sales increases statewide." "In the Chicagoland Primary Metropolitan Statistical Area (PMSA), year-over-year home sales were positive for the sixth consecutive month, up 33.1 percent to 5,752 homes sold (single-family and condominiums) in December 2009 compared to 4,320 homes sold in December 2008. "  
The Bad:
Sales increases driven by REOs and Short Sales along with … (0 comments)

market stats: Regional Economics Applications Laboratory - 02/27/09 05:03 AM
REAL has created a couple of great presentation about the current Illinois economy and forecasts through 2010.
 
The first can be heard at http://www.illinoisrealtor.org/files/hewings_11-2008.mp3 were Dr. Hewings talks about Nov 08, Dec 08, Jan 09.  I like to look at this first to see how correct he was.
Forecasts for the next three months (November and December, 2008 and January, 2009) suggest continuing declines in home sales compared to the same months last year ranging from 16-33 percent in Illinois and Chicago; month to month sales declines will be of the same order of magnitude ranging from 12-32 percent but with an … (0 comments)

market stats: January's Numbers not good for my area... - 02/27/09 03:21 AM
Only 116 closed sales in Jan 09.  Compared to 157 in Jan 08, 265 in Jan of 07, and 317 in Jan 06.
 
The average sales price dropped to 198,330 from 225,287 in Dec 08.
 
Both the sales and avg price are the lowest in 3 years.  The average market time also shot up to 201 days from 169 in Dec 08.  This is the highest level in the last 3 years.
 
The market has not turned around just yet and it looks like people are buying smaller, cheaper houses.  It also seems that investors are snatching up all … (0 comments)

market stats: Home sales rebound in December? - 01/29/09 03:10 PM
Yes, a little.
From IAR:
Home sales rebound in December compared to November. According to IAR's latest report, December home sales were up 7.38 percent to 6,590 units sold compared to November 2008 totals of 6,137; sales were down 17.5 percent from December 2007.
 
This is in all of Illinois.  Even in normal years, we don't see an increase in sales from a November to a December, so it's quite interesting to see this.  I looked at the McHenry County stats for 2006, 2007, and 2008 and every one of those years sales in December are lower than in November. 
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market stats: MRED Closed Statistics for McHCAR December Update - 01/21/09 10:03 AM
Link to table of stats
 
Maybe a local bottom in November, sales actually increased month over month, but still down year over year.
 
Sales up to 169 in Dec from 162 in November Median price jumped to 225k from 204k Still a large drop year-over-year for Dec approx 20% (219 to 169)  
Year end stats analysis in a couple of weeks.
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market stats: MRED Closed Statistics for McHCAR - 12/13/08 06:27 AM
The number of closed properties in McHenry county dropped to 162 for the month of November 2008.  It was 264 in November 2007.  That's a year-over-year 39% drop in closings.
In November 2006, there were 380 closing which makes a 57% drop in closing for November 2008.
It hasn't been looking good, but November 2008 is really bad.  And I thought 2007 was slow...
Avg time on market remains stable at 176 which has been going between 200 and 160 for the last 10 months.
However, average sales price plunged ~10%  in one month to 204,881 in November from 225,618 in October.  … (2 comments)

 
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McHenry, IL

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