In the Cheyenne, WY market in April, closings of new homes declined year-over-year, and the decline was by a larger percentage than the March 2016. New home closings moved from 20 a year earlier to none after the figure moved from 18 in March 2015 to 1 in March 2016.
New home closings were none out of the 220 total closings, down on a percentage basis from 20 of 221 a year earlier. After a drop in March year-over-year, new and existing home closings stayed level in April.
Other Market Trends
Foreclosures and real estate owned (REO) closings increased in April from a year earlier and did not look to be a burden on the market. Foreclosures and REO closings, taken together, represented 10.9% of existing home closings, higher than 9.5% a year earlier. The percentage of existing home closings involving foreclosures rose to 6.4% in April from 3.0% a year earlier while REO closings as a percentage of existing home closings slid to 4.5% from 6.5% a year earlier.