In February, there was a fall year-over-year in new home closings in the Eau Claire, WI market, falling after a rise in January 2016. New home closings moved from 3 a year earlier to none after the figure moved from 2 in January 2015 to 4 in January 2016.
New home closings were none out of the 126 total closings, down on a percentage basis from 3 of 121 a year earlier. For new and existing homes, closings increased year-over-year in February after also increasing in January year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to decline from a year earlier in February, but did not appear to be dragging the market. Out of all existing home closings, foreclosures combined with REO closings made up 13.5% of closings, below 28.0% a year earlier. The percentage of existing home closings involving foreclosures slid to 4.0% in February from 12.7% a year earlier while REO closings as a percentage of existing home closings sank to 9.5% from 15.3% a year earlier.