Closings of new homes in the Lewiston, ME market remained steady 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 3 in August 2014 to none in August 2015. New home closings moved from none a year earlier to none after the figure moved from 3 in August 2014 to none in August 2015.
Closings of new and existing homes rose year-over-year in September after also rising in August year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in September, but did not look to be a burden on the market. Combined, foreclosures plus REO closings made up 11.0% of existing home closings, below 11.8% a year earlier. The percentage of existing home closings involving foreclosures went from 2.9% in September 2014 to 3.9% in September 2015 and REO closings as a percentage of existing home closings slid to 7.1% from 8.8% a year earlier.