In April, the La Crosse, WI market saw a decline year-over-year in new home closings, falling after remaining level in March from the year earlier. Closings stood at 2 in April after being 3 a year earlier and remaining unchanged at 3 in March from a year earlier.
New home closings were 2 out of the 209 total closings, a move on a percentage basis from 3 of 168 a year earlier. After staying stable in March from a year earlier, closings of new and existing homes climbed in April.
The average per-unit price of new homes was $140,000, compared with $262,500 last year. This followed a 7.6% drop in March from a year earlier.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in April 2016.
Foreclosures and real estate owned (REO) closings rose in April from a year earlier and did not look to be a burden on the market. Together, foreclosures plus REO closings represented 8.2% of existing home closings, up from 7.3% a year earlier. The percentage of existing home closings involving foreclosures sank to 1.9% in April from 3.6% a year earlier while REO closings as a percentage of existing home closings climbed to 6.3% from 3.6%.