In the Anderson, IN market, new home closings sank year-over-year in August, dropping after staying level in July. Closings stood at 0 in August after being 1 a year earlier and remaining unchanged at 0 in July from a year earlier. New home closings moved from 1 a year earlier to none after the figure moved from none in July 2014 to none in July 2015.
None of the 415 total closings were new home closings, a shift on a percentage basis from 1 out of 300 a year earlier. Following a year-over-year increase in July, closings of new and existing homes also increased year-over-year in August.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to increase in August from a year earlier and remained a burden on the market. Foreclosures and REO closings, taken together, made up 38.8% of existing home closings, up from 31.4% a year earlier. The percentage of existing home closings involving foreclosures rose to 25.3% in August from 21.1% a year earlier while REO closings as a percentage of existing home closings rose to 13.5% from 10.4%.