In October, the Eau Claire, WI market saw a fall year-over-year in new home closings, a decline following a rise in September 2015. New home closings moved from 4 a year earlier to none after the figure moved from 1 in September 2014 to 3 in September 2015.
On a percentage basis, new home closings as a part of total closings decreased to no part from 1.7% a year earlier. Following a year-over-year rise in September, closings of new and existing homes sank year-over-year in October.
Other Market Trends
Foreclosures and real estate owned (REO) closings increased in October from a year earlier and did not appear to be dragging the market. Foreclosures and REO closings, taken together, represented 14.0% of existing home closings, up from 10.3% a year earlier. The percentage of existing home closings involving foreclosures rose to 7.9% in October from 4.7% a year earlier and REO closings moved from 5.6% of existing home closings in October 2014 to 6.1% in October 2015.