Closings of new homes in the Charleston, WV market remained steady year-over-year in September, staying relatively stable after having decreased year-over-year in August. New home closings moved from none a year earlier to none after the figure moved from 1 in August 2014 to none in August 2015. Closings remained level at none from a year earlier after the figure moved from 1 in August 2014 to none in August 2015.

Closings of new and existing homes grew year-over-year in September after also rising in August year-over-year.

Other Market Trends

Foreclosures and real estate owned (REO) closings continued to decline from a year earlier in September, but did not appear to be dragging the market. Foreclosures and REO closings, taken together, made up 2.2% of existing closings, lower than 8.9% a year earlier. The percentage of existing home closings involving foreclosures dropped to 1.1% in September from 5.4% a year earlier while REO closings as a percentage of existing home closings fell to 1.1% from 3.6% a year earlier.

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