The Parkersburg, WV market saw a drop in new home closings year-over-year in September, dropping after staying level in August. Closings stood at 0 in September after being 2 a year earlier and remaining unchanged at 0 in August from a year earlier. New home closings moved from 2 a year earlier to none after the figure moved from none in August 2014 to none in August 2015.
New home closings were none out of the 152 total closings, down on a percentage basis from 2 of 179 a year earlier. Following a year-over-year rise in August, closings of new and existing homes dropped year-over-year in September.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in September, but did not look to be a burden on the market. Combined, foreclosures plus REO closings represented 13.8% of existing home closings, below 16.9% a year earlier. The percentage of existing home closings involving foreclosures fell to 7.2% in September from 9.6% a year earlier and REO closings moved from 7.3% of existing home closings in September 2014 to 6.6% in September 2015.