New home closings in the Barnstable Town, MA market stayed the same year-over-year in May, staying flat after dropping year-over-year in April from the year earlier. Closings remained level at none from a year earlier after the figure moved from 1 in April 2014 to none in April 2015. New home closings moved from none a year earlier to none after the figure moved from 1 in April 2014 to none in April 2015.
Following a fall in April year-over-year, closings of new and existing homes grew year-over-year in May.
Other Market Trends
Foreclosures and real estate owned (REO) closings rose in May from a year earlier and did not look to be a burden on the market. Foreclosures and REO closings, taken together, accounted for 13.6% of existing home closings, up from 5.7% a year earlier. The percentage of existing home closings involving foreclosures rose to 7.2% in May from 2.7% a year earlier while REO closings as a percentage of existing home closings rose to 6.4% from 2.9%.