New home closings in the Parkersburg, WV market remained steady year-over-year in July, staying flat after dropping year-over-year in June from the year earlier. New home closings moved from none a year earlier to none after the figure moved from 1 in June 2014 to none in June 2015. Closings remained level at none from a year earlier after the figure moved from 1 in June 2014 to none in June 2015.
Following a year-over-year increase in June, closings of new and existing homes also gained year-over-year in July.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to decline from a year earlier in July, but did not appear to be dragging the market. Combined, foreclosures plus REO closings represented 13.1% of existing home closings, below 13.4% a year earlier. The percentage of existing home closings involving foreclosures sank to 5.5% in July from 8.9% a year earlier while REO closings as a percentage of existing home closings increased to 7.7% from 4.5%.