Foreclosures down in Kane and Kendall in 2013
By Steve Lord email@example.com January 26, 2014 5:50PM
Home sales rose in the Southland last year.
Updated: February 28, 2014 6:20AM
YORKVILLE — Foreclosures were down by more than 50 percent in 2013 in both Kane and Kendall counties.
With the numbers tallied by circuit clerk offices, the news in that regard appears to be good, officials said.
“I think that’s good news for people in the community,” said Rebecca Morganegg, Kendall County Circuit Clerk, to the Kendall County Board. “Hopefully, that trend will continue.”
Morganegg was citing information in her year-end report, which she presented to the County Board recently. She added that evictions also appear to be down, likely tied to the reduction in foreclosures.
According to Morganegg’s figures, there were 1,507 foreclosures in 2012, down to 850 in 2013, a reduction of about 50 percent.
The numbers were even better in Kane County, where foreclosures filed went from 4,553 in 2012 to 2,680 in 2013, a reduction of about 58 percent.
While no one would say exactly what that means for the economy, the foreclosure numbers coupled with numbers released Thursday from the Illinois Association of Realtors would indicate the Chicago area, and Illinois, housing markets are getting stronger.
The association said Thursday that Illinois home sales increased 7.9 percent in December, compared to December 2012, and comparing that same time period, median prices increased 13.7 percent.
Statewide home sales (including single-family homes and condominiums) in December 2013 totaled 11,279 homes sold, up from 10,454 in December 2012, the association said. For the year, 2013 home sales totaled 153,492, up18.9 percent from 129,092 in 2012.
“Since January, Illinois has seen a steady stream of positive data which included strong year-over-year sales and median price growth,” said Phil Chiles, Illinois Association of Realtors president. “The numbers show that the housing market is a robust one heading into the new year, and consumer interest does not appear to be flagging even in the face of diminished inventories.”
In the nine-county Chicago Primary Metropolitan Statistical Area, home sales in December 2013 totaled 8,126 homes sold, up 8.1 percent from December 2012 sales of 7,515 homes.Year-end 2013 home sales totaled 111,427, up 23 percent from 90,608 homes sold in the region in 2012, the association said.
“The year 2013 was a good one for the housing market and the prospects for the early part of 2014 appear equally positive,” said Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory of the University of Illinois.
He added that “there is every expectation that the levels of foreclosure might return to pre-recession levels within 12 months.”