New home closings in the Pocatello, ID market were unchanged year-over-year in June, staying relatively stable after having decreased year-over-year in May. Closings remained level at none from a year earlier after the figure moved from 1 in May 2015 to none in May 2016. New home closings moved from none a year earlier to none after the figure moved from 1 in May 2015 to none in May 2016.
Following a year-over-year increase in May, closings of new and existing homes fell year-over-year in June.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in June, but did not look to be a burden on the market. Foreclosures and REO closings, taken together, made up 11.3% of existing closings, lower than 16.1% a year earlier. The percentage of existing home closings involving foreclosures declined to 6.6% in June from 10.3% a year earlier while REO closings as a percentage of existing home closings sank to 4.7% from 5.8% a year earlier.