In November, the Mansfield, OH market saw a drop year-over-year in new home closings, declining after staying relatively stable in October from the 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. 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 were none out of the 107 total closings, a move on a percentage basis from 1 of 118 a year earlier. After remaining steady in October from a year earlier, closings of new and existing homes slid year-over-year in November.

Other Market Trends

Foreclosures and real estate owned (REO) closings continued to decline from a year earlier in November, but did not look to be a burden on the market. Combined, foreclosures plus REO closings accounted for 24.3% of existing home closings, below 36.8% a year earlier. The percentage of existing home closings involving foreclosures declined to 12.1% in November from 25.6% a year earlier while REO closings as a percentage of existing home closings rose to 12.1% from 11.1%.

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