In the Parkersburg, WV market in September, new home closings dropped year-over-year, falling after remaining level in August from the year earlier. Closings stood at 0 in September after being 2 a year earlier and remaining unchanged at 0 in August from a year earlier. New home closings moved from 2 a year earlier to none after the figure moved from none in August 2014 to none in August 2015.
On a percentage basis, new home closings as a part of total closings decreased to no part from 1.1% a year earlier. Following a year-over-year rise in August, closings of new and existing homes slid year-over-year in September.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in September, but did not appear to be dragging the market. Together, foreclosures plus REO closings represented 13.8% of existing home closings, down from 16.9% a year earlier. The percentage of existing home closings involving foreclosures dropped to 7.2% in September from 9.6% a year earlier and REO closings moved from 7.3% of existing home closings in September 2014 to 6.6% in September 2015.