In the Sandusky, OH market, closings of new homes dropped year-over-year in September, dropping after staying level in August. Closings stood at 0 in September after being 1 a year earlier and remaining unchanged at 0 in August from a year earlier. New home closings moved from 1 a year earlier to none after the figure moved from none in August 2014 to none in August 2015.
New home closings were none out of the 106 total closings, a move on a percentage basis from 1 of 122 a year earlier. Following a year-over-year rise in August, closings of new and existing homes sank year-over-year in September.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in September, but did not appear to be dragging the market. Combined, foreclosures plus REO closings accounted for 22.6% of existing home closings, below 36.4% a year earlier. The percentage of existing home closings involving foreclosures slid to 11.3% in September from 21.5% a year earlier while REO closings as a percentage of existing home closings declined to 11.3% from 14.9% a year earlier.