Closings of new homes in the Anderson, IN market remained unchanged year-over-year in February, staying level after a year-over-year decline in January from the year earlier. Closings remained level at none from a year earlier after the figure moved from 2 in January 2015 to none in January 2016. New home closings moved from none a year earlier to none after the figure moved from 2 in January 2015 to none in January 2016.

Following a fall in January year-over-year, closings of new and existing homes grew year-over-year in February.

Other Market Trends

Foreclosures and real estate owned (REO) closings fell in February from a year earlier, but remained a drag on the market. Foreclosures and REO closings, taken together, accounted for 43.6% of existing closings, lower than 44.1% a year earlier. The percentage of existing home closings involving foreclosures rose to 27.1% in February from 19.1% a year earlier while REO closings as a percentage of existing home closings slid to 16.5% from a quarter a year earlier.

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