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This Week in Real Estate: Home Sale Spectacles, IMIs and Originations

by Chicago Agent

The increase of multifamily originations was just one of the week

How many new homes were added to the latest Improving Markets Index? Where did Illinois home sales end up for 2011? And has housing finally bottomed out? We take a look at this week’s real estate news, Feb. 6 to Feb. 10, by the numbers:

14.8 – the percentage that Illinois home sales increased, year-over-year, in the fourth quarter of 2011. In addition, sales in the Chicago area were up 20.4 percent and 11.1 percent for the city.

29 – the number of cities that were added to the NAHB’s latest Improving Markets Index. Since launching the index in September, the NAHB has added cities with each subsequent month to its current total of 98.

2012 – the year that the two housing bottoms, one for starts and sales, the other for prices, could both hit rock bottom and begin their respective recoveries.

2013 – the likely year that legislation will materialize on how the government will overhaul Fannie Mae and Freddie Mac; Treasury Secretary Geithner all but ruled out such measures for 2012 in recent comments.

31 – the percentage that multifamily originations rose in the fourth quarter of 2011; one of the true high points for housing right now, the multifamily sector seems to bring good news on a weekly basis.

55 – the amount of money, in millions, that has been devoted to Illinois’ new foreclosure prevention program. In partnership with Cook County, the program will focus on Berwyn, Chicago Heights, Maywood, Park Forest, Riverdale and South Holland.

4 – the number of years that the National Association of Federal Credit Unions wanted to extend the FHA’s lockout period for homeowners who default on their loans; though unsuccessful, the association’s attempt was seen as a response to the growing number of strategic defaults.

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