In the Yuma, AZ market, closings of new homes slid year-over-year in November, and the decline was by a larger percentage than the October 2015. New home closings moved from 19 a year earlier to none after the figure moved from 20 in October 2014 to 3 in October 2015.
New home closings were none out of the 120 total closings, down on a percentage basis from 19 of 144 a year earlier. For new and existing homes, closings dropped in November after also declining in October year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings decreased in November from a year earlier, but remained a burden on the market. Out of all existing home closings, foreclosures combined with REO closings accounted for 32.5% of closings, below 40.8% a year earlier. The percentage of existing home closings involving foreclosures went from 15.2% in November 2014 to 15.8% in November 2015 and REO closings as a percentage of existing home closings fell to 16.7% from 25.6% a year earlier.