Closings of new homes in the Mansfield, OH market remained steady year-over-year in October, staying relatively stable after having decreased year-over-year in September. Closings remained level at none from a year earlier after the figure moved from 2 in September 2014 to none in September 2015. New home closings moved from none a year earlier to none after the figure moved from 2 in September 2014 to none in September 2015.
After rising year-over-year in September, closings of new and existing homes sank year-over-year in October.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to rise in October from a year earlier and stayed a drag on the market. Combined, foreclosures plus REO closings accounted for 27.0% of existing home closings, above 26.5% a year earlier. The percentage of existing home closings involving foreclosures dropped to 10.5% in October from 13.5% a year earlier while REO closings as a percentage of existing home closings grew to 16.4% from 12.9%.