In July, there was a fall year-over-year in new home closings in the Sheboygan, WI market, declining after staying relatively stable in June from the year earlier. Closings stood at 0 in July after being 1 a year earlier and remaining unchanged at 1 in June from a year earlier.
None of the 184 total closings were new home closings, a shift on a percentage basis from 1 out of 188 a year earlier. After rising year-over-year in June, closings of new and existing homes sank year-over-year in July.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in July, but did not appear to be dragging the market. Out of all existing home closings, foreclosures combined with REO closings accounted for 12.0% of closings, below 13.9% a year earlier. The percentage of existing home closings involving foreclosures sank to 4.3% in July from 7.5% a year earlier while REO closings as a percentage of existing home closings gained to 7.6% from 6.4%.