The La Crosse, WI market saw a rise in new home closings in November year-over-year, and the increase was greater than October 2015. New home closings moved from 1 a year earlier to 3 after the figure moved from 2 in October 2014 to 4 in October 2015.
A total of 32 new homes were sold during the 12 months that ended in November, up from 30 for the year that ended in October.
New home closings were 3 of the 142 total closings, up on a percentage basis from 1 of 101 a year earlier. Closings of new and existing homes increased year-over-year in November after also rising in October year-over-year.
The average new home price was $246,633, down from $261,400 a year earlier. This came after a 15.4% bump in October year-over-year.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in November 2015.
Foreclosures and real estate owned (REO) closings continued to fall from a year earlier in November, but did not look to be a burden on the market. Out of all existing home closings, foreclosures combined with REO closings accounted for 7.9% of closings, below 11.0% a year earlier. The percentage of existing home closings involving foreclosures sank to 4.3% in November from 7.0% a year earlier and REO closings moved from 4.0% of existing home closings in November 2014 to 3.6% in November 2015.