In the Anderson, IN market in December, closings of new homes sank year-over-year, and the decline was by a larger percentage than the November 2015. New home closings moved from 4 a year earlier to none after the figure moved from 2 in November 2014 to 1 in November 2015.
Last year, 4 of 272 total closings were new homes, and this percentage saw a decline as new home closings this year made up none of the 239 total closings. For new and existing homes, closings fell in December after also declining in November year-over-year.
Other Market Trends
There were no new home closings in December 2015, but average size of newly sold homes was 1,841 a year earlier.
Foreclosures and real estate owned (REO) closings decreased in December from a year earlier, but remained a burden on the market. Foreclosures and REO closings, taken together, accounted for 26.4% of existing closings, lower than 31.3% a year earlier. The percentage of existing home closings involving foreclosures sank to 7.5% in December from 11.6% a year earlier and REO closings moved from 19.8% of existing home closings in December 2014 to 18.8% in December 2015.