New home closings declined year-over-year in March in the Anderson, IN market, declining after staying relatively stable in February from the year earlier. New home closings moved from 5 a year earlier to none after the figure moved from none in February 2015 to none in February 2016. Closings stood at 0 in March after being 5 a year earlier and remaining unchanged at 0 in February from a year earlier.
On a percentage basis, new home closings as a part of total closings decreased to no part from 2.1% a year earlier. For new and existing homes, closings grew year-over-year in March after also increasing in February year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings declined in March from a year earlier, but remained a drag on the market. Out of all existing home closings, foreclosures combined with REO closings represented 29.7% of closings, below 36.3% a year earlier. The percentage of existing home closings involving foreclosures went from 12.4% in March 2015 to 12.2% in March 2016 and REO closings as a percentage of existing home closings dropped to 17.5% from 23.9% a year earlier.