In the Terre Haute, IN market in November, new home closings fell year-over-year, dropping after staying level in October. Closings stood at 0 in November after being 1 a year earlier and remaining unchanged at 0 in October from a year earlier. New home closings moved from 1 a year earlier to none after the figure moved from none in October 2014 to none in October 2015.
None of the 167 total closings were new home closings, a shift on a percentage basis from 1 out of 201 a year earlier. For new and existing homes, closings declined in November after also declining in October year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in November, but did not appear to be dragging the market. Foreclosures and REO closings, taken together, made up 18.6% of existing closings, lower than 21.5% a year earlier. The percentage of existing home closings involving foreclosures sank to 9.0% in November from 10.0% a year earlier while REO closings as a percentage of existing home closings slid to 9.6% from 11.5% a year earlier.