Closings of new homes in the La Crosse, WI market remained unchanged year-over-year in December, staying flat after advancing year-over-year in November from the year earlier. Closings remained level at 2 from a year earlier after the figure moved from 1 in November 2014 to 3 in November 2015.
A total of 33 new homes were sold during the 12 months that ended in December, equal to the number of new homes sold for the year that ended in November.
New home closings were 2 out of the 133 total closings, same on a percentage basis as a year earlier. For new and existing homes, closings grew year-over-year in December after also increasing in November year-over-year.
The average per-unit price of new homes was $263,800, compared with $363,000 last year. This came after a 5.6% decline in November 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 drop from a year earlier in December, but did not look to be a burden on the market. Foreclosures and REO closings, taken together, represented 5.3% of existing closings, lower than 10.1% a year earlier. The percentage of existing home closings involving foreclosures stayed at 3.9% of closings in December from a year earlier while REO closings as a percentage of existing home closings dropped to 1.5% from 6.2% a year earlier.