New home closings slid year-over-year in October in the Lawton, OK market, falling after remaining level in September from the year earlier. Closings stood at 0 in October after being 8 a year earlier and remaining unchanged at 4 in September from a year earlier.

Last year, 8 of 142 total closings were new homes, and this percentage saw a decline as new home closings this year made up none of the 122 total closings. For new and existing homes, closings fell in October after also declining in September year-over-year.

Other Market Trends

There were no new home closings in October 2015, but average size of newly sold homes was 1,754 a year earlier.

Foreclosures and real estate owned (REO) closings remained level in October from a year earlier, but stayed a drag on the market. Foreclosures and REO closings, taken together, accounted for half of existing closings, about the same as a year earlier The percentage of existing home closings involving foreclosures rose to 18.9% in October from 13.4% a year earlier while REO closings as a percentage of existing home closings dropped to 31.1% from 36.6% a year earlier.

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