In April, closings of new homes climbed year-over-year in the Oshkosh, WI market, and the increase was greater than March 2016. New home closings moved from 2 a year earlier to 10 after the figure moved from 4 in March 2015 to 6 in March 2016.
A total of 117 new homes were sold during the 12 months that ended in April, up from 109 for the year that ended in March.
New home closings were 10 of the 210 total closings, up on a percentage basis from 2 of 261 a year earlier. After rising year-over-year in March, closings of new and existing homes slid year-over-year in April.
Other Market Trends
The share of new home closings made up by attached units has risen while the share belonging to single-family homes has fallen.
Foreclosures and real estate owned (REO) closings continued to decline from a year earlier in April, but did not appear to be dragging the market. Combined, foreclosures plus REO closings represented 15.5% of existing home closings, below 19.7% a year earlier. The percentage of existing home closings involving foreclosures declined to 5.5% in April from 8.5% a year earlier while REO closings as a percentage of existing home closings dropped to 10.0% from 11.2% a year earlier.