In the Cheyenne, WY market, new home closings sank year-over-year in July, dropping after staying level in June. Closings stood at 0 in July after being 4 a year earlier and remaining unchanged at 2 in June from a year earlier.
New home closings were none out of the 234 total closings, down on a percentage basis from 4 of 215 a year earlier. Closings of new and existing homes climbed year-over-year in July after also rising in June year-over-year.
Other Market Trends
There were no new home closings in July 2015, but average size of newly sold homes was 1,625 a year earlier.
Foreclosures and real estate owned (REO) closings continued to decline from a year earlier in July, but did not look to be a burden on the market. Combined, foreclosures plus REO closings represented 9.4% of existing home closings, below 12.3% a year earlier. The percentage of existing home closings involving foreclosures went from 5.2% in July 2014 to 4.7% in July 2015 and REO closings as a percentage of existing home closings declined to 4.7% from 7.1% a year earlier.