New home closings in the La Crosse, WI market rose year-over-year in August, but the increase was less than July 2015. New home closings moved from 2 a year earlier to 4 after the figure moved from 1 in July 2014 to 5 in July 2015.
A total of 31 new homes were sold during the 12 months that ended in August, up from 29 for the year that ended in July.
New home closings were 4 out of 142 total closings, making up 2.8%. This is up on a percentage basis from 2 of 218 a year earlier. After rising year-over-year in July, closings of new and existing homes sank year-over-year in August.
The average new home value went from $207,000 last year to $240,250. This followed a 32.6% decline in July from a year earlier.
Other Market Trends
As a share of new home closings, single-family home closings have risen from last year while the share belonging to attached units has fallen.
Foreclosures and real estate owned (REO) closings continued to decline from a year earlier in August, but did not appear to be dragging the market. Foreclosures and REO closings, taken together, accounted for 2.9% of existing closings, lower than 10.6% a year earlier. The percentage of existing home closings involving foreclosures slid to no part in August from 5.1% a year earlier while REO closings as a percentage of existing home closings declined to 2.9% from 5.6% a year earlier.