In the Fond du Lac, WI market in April, closings of new homes declined year-over-year, and the decline was by a larger percentage than the March 2016. New home closings moved from 1 a year earlier to none after the figure moved from 2 in March 2015 to 1 in March 2016.
New home closings were none out of the 123 total closings, a move on a percentage basis from 1 of 129 a year earlier. For new and existing homes, closings declined in April after also declining in March year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings rose in April from a year earlier and did not appear to be dragging the market. Combined, foreclosures plus REO closings represented 22.0% of existing home closings, above 21.1% a year earlier. The percentage of existing home closings involving foreclosures dropped to 4.9% in April from 9.4% a year earlier while REO closings as a percentage of existing home closings climbed to 17.1% from 11.7%.