New home closings in the Shreveport, LA market declined year-over-year in November, and the decline was by a larger percentage than the October 2015. New home closings moved from 15 a year earlier to none after the figure moved from 26 in October 2014 to 3 in October 2015.
New home closings were 3.9% of total closings a year earlier, and this percentage saw a decline as new home closings this year made up none of the 193 total closings. For new and existing homes, closings declined in November after also declining in October year-over-year.
Other Market Trends
There were no new home closings in November 2015, but average size of newly sold homes was 2,173 a year earlier.
Foreclosures and real estate owned (REO) closings continued to rise in November from a year earlier and stayed a drag on the market. Foreclosures and REO closings, taken together, made up 27.5% of existing home closings, up from 25.7% a year earlier. The percentage of existing home closings involving foreclosures went from 11.7% in November 2014 to 12.4% in November 2015 and REO closings moved from 14.1% of existing home closings in November 2014 to 15.0% in November 2015.