Closings of new homes in the Wheeling, WV market saw no change year-over-year in November, staying level after a year-over-year increase in October from a year earlier. New home closings moved from none a year earlier to none after the figure moved from none in October 2014 to 1 in October 2015. Closings remained level at none from a year earlier after the figure moved from none in October 2014 to 1 in October 2015.
Following a year-over-year decline in October, closings of new and existing homes also dropped year-over-year in November.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to decline from a year earlier in November, but did not appear to be dragging the market. Together, foreclosures plus REO closings represented 13.2% of existing home closings, down from 22.0% a year earlier. The percentage of existing home closings involving foreclosures sank to 10.3% in November from 13.0% a year earlier while REO closings as a percentage of existing home closings declined to 2.9% from 9.0% a year earlier.