New home closings in the Sheboygan, WI market declined year-over-year in February, dropping after staying level in January. Closings stood at 0 in February after being 3 a year earlier and remaining unchanged at 1 in January from a year earlier.

Last year, 3 of 111 total closings were new homes, and this percentage saw a decline as new home closings this year made up none of the 82 total closings. Closings of new and existing homes sank year-over-year in February after also falling in January year-over-year.

Other Market Trends

Foreclosures and real estate owned (REO) closings fell in February from a year earlier, but remained a burden on the market. Out of all existing home closings, foreclosures combined with REO closings made up 32.9% of closings, below 33.3% a year earlier. The percentage of existing home closings involving foreclosures declined to 14.6% in February from 18.5% a year earlier while REO closings as a percentage of existing home closings rose to 18.3% from 14.8%.

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