New home closings in the Decatur, IL market slid year-over-year in December, dropping after staying level in November. Closings stood at 0 in December after being 1 a year earlier and remaining unchanged at 0 in November from a year earlier. New home closings moved from 1 a year earlier to none after the figure moved from none in November 2014 to none in November 2015.
None of the 106 total closings were new home closings, a shift on a percentage basis from 1 out of 154 a year earlier. Following a year-over-year rise in November, closings of new and existing homes declined year-over-year in December.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in December, but did not appear to be dragging the market. Together, foreclosures plus REO closings accounted for 18.9% of existing home closings, down from 31.4% a year earlier. The percentage of existing home closings involving foreclosures went from 10.5% in December 2014 to 11.3% in December 2015 and REO closings as a percentage of existing home closings dropped to 7.5% from 20.9% a year earlier.