In September, the Sandusky, OH market saw a fall year-over-year in new home closings, falling after remaining level in August from the 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. Closings stood at 0 in September after being 1 a year earlier and remaining unchanged at 0 in August from a year earlier.
None of the 106 total closings were new home closings, a shift on a percentage basis from 1 out of 122 a year earlier. Following a year-over-year increase in August, closings of new and existing homes dropped year-over-year in September.
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, accounted for 22.6% of existing closings, lower than 36.4% a year earlier. The percentage of existing home closings involving foreclosures slid to 11.3% in September from 21.5% a year earlier while REO closings as a percentage of existing home closings declined to 11.3% from 14.9% a year earlier.
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