In the La Crosse, WI market, closings of new homes slid year-over-year in January, dropping after staying level in December. Closings stood at 0 in January after being 1 a year earlier and remaining unchanged at 2 in December from a year earlier.
New home closings were none out of the 102 total closings, a move on a percentage basis from 1 of 115 a year earlier. After rising year-over-year in December, closings of new and existing homes sank year-over-year in January.
Other Market Trends
Foreclosures and real estate owned (REO) closings rose in January from a year earlier and did not look to be a burden on the market. Foreclosures and REO closings, taken together, accounted for 12.7% of existing home closings, higher than 7.9% a year earlier. The percentage of existing home closings involving foreclosures dropped to 3.9% in January from 5.3% a year earlier while REO closings as a percentage of existing home closings climbed to 8.8% from 2.6%.