New home closings in the Parkersburg, WV market slid year-over-year in June, declining after staying relatively stable in May from the year earlier. New home closings moved from 2 a year earlier to none after the figure moved from none in May 2015 to none in May 2016. Closings stood at 0 in June after being 2 a year earlier and remaining unchanged at 0 in May from a year earlier.

On a percentage basis, new home closings as a part of total closings decreased to no part from 1.1% a year earlier. Following a year-over-year rise in May, closings of new and existing homes fell year-over-year in June.

Other Market Trends

Foreclosures and real estate owned (REO) closings continued to decline from a year earlier in June, but did not appear to be dragging the market. Together, foreclosures plus REO closings accounted for 12.1% of existing home closings, down from 15.5% a year earlier. The percentage of existing home closings involving foreclosures went from 7.5% in June 2015 to 8.1% in June 2016 and REO closings as a percentage of existing home closings sank to 4.0% from 8.0% a year earlier.

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