Closings of new homes in the Janesville, WI market remained steady year-over-year in June, staying level after a year-over-year increase in May from a year earlier. Closings remained level at 7 from a year earlier after the figure moved from 5 in May 2015 to 9 in May 2016.
A total of 70 new homes were sold during the 12 months that ended in June, equal to the number of new homes sold for the year that ended in May.
7 of the 298 total closings were new home closings, a shift on a percentage basis from 7 out of 329 a year earlier. Following a year-over-year increase in May, closings of new and existing homes sank year-over-year in June.
The average price for newly sold homes moved north to $213,914 from $203,886 a year ago. This came after a 6.2% lift in May year-over-year.
Other Market Trends
The share of new home closings made up by attached units has risen while the share belonging to single-family homes has fallen.
Foreclosures and real estate owned (REO) closings continued to fall from a year earlier in June, but did not look to be a burden on the market. Foreclosures and REO closings, taken together, accounted for 8.6% of existing closings, lower than 11.5% a year earlier. The percentage of existing home closings involving foreclosures slid to 1.7% in June from 5.3% a year earlier and REO closings moved from 6.2% of existing home closings in June 2015 to 6.9% in June 2016.