Rearranging application using iTunes is very slow

I was trying to rearrange my applications on my iPhone using iTunes and everytime I dragged and dropped an application to a new spot iTunes got stuck and the pinwheel of death appeared. I would say that after each drop iTunes became unresponsive for approximately 5 seconds (sometimes longer). I have just upgraded to iTunes 11.1 on my MacBook Pro (Mid 2009) and I also just upgraded my iPhone to iOS 7 (AT&T iPhone 5). Does anybody else have this issue? It makes the feature in iTunes unusable. I got more done faster by just dragging the apps around on my iPhone screen...