There was an increase in closings of new homes in the La Crosse, WI market in February year-over-year, rebounding from a year-over-year decline in January 2016. New home closings moved from 2 a year earlier to 4 after the figure moved from 1 in January 2015 to none in January 2016.
New home closings were 4 out of 108 total closings, making up 3.7%. This is up on a percentage basis from 2 of 108 a year earlier. After a fall in January year-over-year, new and existing home closings stayed level in February.
The average value of newly sold homes in February 2016 was $230,500, down from last year's $264,750. This was on the heels of a.
Other Market Trends
The share of new home closings made up by attached units has risen while the share belonging to single-family homes has fallen.
Foreclosures and real estate owned (REO) closings continued to decline from a year earlier in February, but did not look to be a burden on the market. Combined, foreclosures plus REO closings represented 9.6% of existing home closings, below 11.3% a year earlier. The percentage of existing home closings involving foreclosures went from 7.5% in February 2015 to 6.7% in February 2016 and REO closings moved from 3.8% of existing home closings in February 2015 to 2.9% in February 2016.