In June, there was a drop year-over-year in new home closings in the Barnstable Town, MA market, dropping after staying level in May. Closings stood at 0 in June after being 1 a year earlier and remaining unchanged at 0 in May from a year earlier. New home closings moved from 1 a year earlier to none after the figure moved from none in May 2014 to none in May 2015.
None of the 675 total closings were new home closings, a shift on a percentage basis from 1 out of 566 a year earlier. For new and existing homes, closings jumped year-over-year in June after also increasing in May year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings increased in June from a year earlier and did not look to be a burden on the market. Foreclosures and REO closings, taken together, made up 11.3% of existing home closings, up from 4.6% a year earlier. The percentage of existing home closings involving foreclosures rose to 4.6% in June from 1.8% a year earlier while REO closings as a percentage of existing home closings rose to 6.7% from 2.8%.