New home closings in the Springfield, OH market were unchanged year-over-year in April, staying level after a year-over-year decline in March from the year earlier. New home closings moved from none a year earlier to none after the figure moved from 3 in March 2015 to none in March 2016. Closings remained level at none from a year earlier after the figure moved from 3 in March 2015 to none in March 2016.

Closings of new and existing homes grew year-over-year in April following a decline in March year-over-year.

Other Market Trends

Foreclosures and real estate owned (REO) closings declined in April from a year earlier, but remained a burden on the market. Out of all existing home closings, foreclosures combined with REO closings made up 32.6% of closings, below 38.8% a year earlier. The percentage of existing home closings involving foreclosures rose to 22.3% in April from 17.6% a year earlier while REO closings as a percentage of existing home closings dropped to 10.4% from 21.2% a year earlier.

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