New home closings in the Danville, IL market stayed the same year-over-year in June, staying relatively stable after having decreased year-over-year in May. Closings remained level at none from a year earlier after the figure moved from 1 in May 2015 to none in May 2016. New home closings moved from none a year earlier to none after the figure moved from 1 in May 2015 to none in May 2016.

After dropping in May from a year earlier, closings of new and existing homes grew year-over-year in June.

Other Market Trends

Foreclosures and real estate owned (REO) closings continued to fall from a year earlier in June, but did not look to be a burden on the market. Out of all existing home closings, foreclosures combined with REO closings accounted for 15.2% of closings, below 24.5% a year earlier. The percentage of existing home closings involving foreclosures fell to 4.5% in June from 11.8% a year earlier while REO closings as a percentage of existing home closings slid to 10.7% from 12.7% a year earlier.

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