Closings of new homes slid year-over-year in July in the Longview, WA market, dropping after staying level in June. Closings stood at 0 in July after being 5 a year earlier and remaining unchanged at 1 in June from a year earlier.

On a percentage basis, new home closings as a part of total closings decreased to no part from 3.0% a year earlier. Closings of new and existing homes gained year-over-year in July after also rising in June year-over-year.

Other Market Trends

Foreclosures and real estate owned (REO) closings continued to decline from a year earlier in July, but did not look to be a burden on the market. Out of all existing home closings, foreclosures combined with REO closings represented 24.3% of closings, below 25.5% a year earlier. The percentage of existing home closings involving foreclosures rose to 14.8% in July from 11.8% a year earlier while REO closings as a percentage of existing home closings slid to 9.5% from 13.7% a year earlier.

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