In the Cheyenne, WY market in September, new home closings fell year-over-year, dropping after staying level in August. Closings stood at 0 in September after being 1 a year earlier and remaining unchanged at 3 in August from a year earlier.
None of the 219 total closings were new home closings, a shift on a percentage basis from 1 out of 171 a year earlier. For new and existing homes, closings jumped year-over-year in September after also increasing in August year-over-year.
Other Market Trends
There were no new home closings in September 2015, but average size of newly sold homes was 1,903 a year earlier.
Foreclosures and real estate owned (REO) closings rose in September from a year earlier and did not look to be a burden on the market. Foreclosures and REO closings, taken together, accounted for 14.2% of existing home closings, up from 12.4% a year earlier. The percentage of existing home closings involving foreclosures rose to 8.7% in September from 7.1% a year earlier and REO closings moved from 5.3% of existing home closings in September 2014 to 5.5% in September 2015.