New home closings moved from none a year earlier to 1 after the figure moved from 1 in February 2015 to 3 in February 2016.
For new and existing homes, closings jumped year-over-year in March after also increasing in February year-over-year.
Other Market Trends
Out of all existing home closings, foreclosures combined with REO closings accounted for 52.1% of closings. In March 2015, they made up 52.0%. The percentage of existing home closings involving foreclosures dropped to 15.4% in March from 21.5% a year earlier while REO closings as a percentage of existing home closings grew to 36.7% from 30.5%.