Closings of new homes in the Corvallis, OR market saw no change year-over-year in September, staying relatively stable after having decreased year-over-year in August. Closings remained level at none from a year earlier after the figure moved from 1 in August 2014 to none in August 2015. New home closings moved from none a year earlier to none after the figure moved from 1 in August 2014 to none in August 2015.
Closings of new and existing homes jumped year-over-year in September after also rising in August year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings increased in September from a year earlier and did not appear to be dragging the market. Foreclosures and REO closings, taken together, represented 9.7% of existing home closings, up from 6.1% a year earlier. The percentage of existing home closings involving foreclosures stayed at 4.1% of closings in September from a year earlier while REO closings as a percentage of existing home closings climbed to 5.6% from 2.0%.