New home closings moved from none a year earlier to 3 after the figure moved from 3 in October 2014 to 10 in October 2015.
Closings of new and existing homes gained year-over-year in November after also rising in October year-over-year.
Other Market Trends
The average size of newly sold homes was 1,453 in November 2015 while there were no new home closings a year earlier.
Foreclosures and real estate owned (REO) closings rose in November from a year earlier and did not appear to be dragging the market. Foreclosures and REO closings, taken together, accounted for 8.7% of existing home closings, up from 8.0% a year earlier. The percentage of existing home closings involving foreclosures rose to 5.8% in November from 3.4% a year earlier while REO closings as a percentage of existing home closings sank to 2.9% from 4.6% a year earlier.