Closings of new homes in the Barnstable Town, MA market saw no change year-over-year in July, staying flat after dropping year-over-year in June from the year earlier. Closings remained level at none from a year earlier after the figure moved from 1 in June 2014 to none in June 2015. New home closings moved from none a year earlier to none after the figure moved from 1 in June 2014 to none in June 2015.
Closings of new and existing homes climbed year-over-year in July after also rising in June year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings increased in July from a year earlier and did not appear to be dragging the market. Together, foreclosures plus REO closings made up 13.5% of existing home closings, up from 7.0% a year earlier. The percentage of existing home closings involving foreclosures rose to 5.9% in July from 4.5% a year earlier while REO closings as a percentage of existing home closings rose to 7.5% from 2.5%.