New home closings in the Wheeling, WV market were unchanged year-over-year in March, staying level after a year-over-year increase in February from a year earlier. Closings remained level at none from a year earlier after the figure moved from none in February 2015 to 1 in February 2016. New home closings moved from none a year earlier to none after the figure moved from none in February 2015 to 1 in February 2016.

After rising year-over-year in February, closings of new and existing homes dropped year-over-year in March.

Other Market Trends

Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in March, but did not appear to be dragging the market. Together, foreclosures plus REO closings accounted for 12.0% of existing home closings, down from 21.0% a year earlier. The percentage of existing home closings involving foreclosures slid to 4.0% in March from 8.6% a year earlier while REO closings as a percentage of existing home closings fell to 8.0% from 12.3% a year earlier.

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