The Pueblo, CO market saw a drop in new home closings year-over-year in November, and the decline was by a larger percentage than the October 2015. New home closings moved from 4 a year earlier to none after the figure moved from 3 in October 2014 to 2 in October 2015.
New home closings were none out of the 202 total closings, down on a percentage basis from 4 of 212 a year earlier. Following a year-over-year rise in October, closings of new and existing homes dropped year-over-year in November.
Other Market Trends
There were no new home closings in November 2015, but average size of newly sold homes was 1,780 a year earlier.
Foreclosures and real estate owned (REO) closings fell in November from a year earlier, but remained a drag on the market. Foreclosures and REO closings, taken together, made up 28.7% of existing closings, lower than 30.3% a year earlier. The percentage of existing home closings involving foreclosures rose to 17.8% in November from 12.5% a year earlier while REO closings as a percentage of existing home closings sank to 10.9% from 17.8% a year earlier.