In September, the Barnstable Town, MA market saw a drop year-over-year in new home closings, falling after remaining level in August from the year earlier. Closings stood at 0 in September after being 1 a year earlier and remaining unchanged at 0 in August from a year earlier. New home closings moved from 1 a year earlier to none after the figure moved from none in August 2014 to none in August 2015.
None of the 604 total closings were new home closings, a shift on a percentage basis from 1 out of 573 a year earlier. For new and existing homes, closings jumped year-over-year in September after also increasing in August year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to fall from a year earlier in September, but did not appear to be dragging the market. Foreclosures and REO closings, taken together, made up 8.8% of existing closings, lower than 10.3% a year earlier. The percentage of existing home closings involving foreclosures fell to 3.0% in September from 5.4% a year earlier and REO closings moved from 4.9% of existing home closings in September 2014 to 5.8% in September 2015.