Closings of new homes in the Casper, WY market slid year-over-year in February, and the decline was by a larger percentage than the January 2016. New home closings moved from 8 a year earlier to none after the figure moved from 11 in January 2015 to 2 in January 2016.

On a percentage basis, new home closings as a part of total closings decreased to no part from 6.8% a year earlier. Following a year-over-year decline in January, closings of new and existing homes also slid year-over-year in February.

Other Market Trends

Foreclosures and real estate owned (REO) closings rose in February from a year earlier and did not look to be a burden on the market. Foreclosures and REO closings, taken together, made up 21.6% of existing home closings, up from 7.3% a year earlier. The percentage of existing home closings involving foreclosures rose to 15.5% in February from 3.7% a year earlier while REO closings as a percentage of existing home closings rose to 6.2% from 3.7%.

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