In the Cheyenne, WY market, new home closings dropped year-over-year in November, and the decline was by a larger percentage than the October 2015. New home closings moved from 19 a year earlier to none after the figure moved from 26 in October 2014 to 2 in October 2015.
New home closings were none out of the 190 total closings, down on a percentage basis from 19 of 169 a year earlier. Following a decline in October year-over-year, closings of new and existing homes climbed year-over-year in November.
Other Market Trends
Foreclosures and real estate owned (REO) closings increased in November from a year earlier and did not look to be a burden on the market. Foreclosures and REO closings, taken together, accounted for 14.7% of existing home closings, higher than 11.3% a year earlier. The percentage of existing home closings involving foreclosures rose to 7.4% in November from 4.0% a year earlier while REO closings as a percentage of existing home closings stayed level at 7.4%.