New home closings moved from none a year earlier to 1 after the figure moved from 1 in June 2014 to 1 in June 2015. Closings stood at 1 in July after being 0 a year earlier and remaining unchanged at 1 in June from a year earlier.
Following a year-over-year increase in June, closings of new and existing homes also jumped year-over-year in July.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to fall from a year earlier in July, but did not appear to be dragging the market. Combined, foreclosures plus REO closings accounted for 1.6% of existing home closings, below all a year earlier. The percentage of existing home closings involving foreclosures declined to 0.8% in July from 100.0% a year earlier and REO closings moved from no part of existing home closings in July 2014 to 0.8% in July 2015.