Closings of new homes in the Longview, WA market saw no change year-over-year in June, staying level after a year-over-year increase in May from a year earlier. Closings remained level at 1 from a year earlier after the figure moved from 1 in May 2015 to 2 in May 2016.
Out of the 212 total closings, 1 were new home closings. This is consistent on a percentage basis with a year earlier. Following a year-over-year increase in May, closings of new and existing homes also increased year-over-year in June.
The average new home price was $133,000, down from $298,900 a year earlier. This followed a 7.7% fall in May 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 June 2016.
Foreclosures and real estate owned (REO) closings rose in June from a year earlier and did not appear to be dragging the market. Foreclosures and REO closings, taken together, made up 21.3% of existing home closings, higher than 18.5% a year earlier. The percentage of existing home closings involving foreclosures stayed at 8.5% of closings in June from a year earlier while REO closings as a percentage of existing home closings climbed to 12.8% from 10.1%.