New home closings in the Pocatello, ID market remained steady year-over-year in June, staying flat after dropping year-over-year in May from the year earlier. Closings remained level at none from a year earlier after the figure moved from 1 in May 2015 to none in May 2016. New home closings moved from none a year earlier to none after the figure moved from 1 in May 2015 to none in May 2016.
Following a year-over-year increase in May, closings of new and existing homes fell year-over-year in June.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to fall from a year earlier in June, but did not appear to be dragging the market. Out of all existing home closings, foreclosures combined with REO closings accounted for 11.3% of closings, below 16.1% a year earlier. The percentage of existing home closings involving foreclosures sank to 6.6% in June from 10.3% a year earlier while REO closings as a percentage of existing home closings dropped to 4.7% from 5.8% a year earlier.