In the Springfield, OH market, closings of new homes declined year-over-year in September, falling after remaining level in August from the year earlier. Closings stood at 0 in September after being 2 a year earlier and remaining unchanged at 0 in August from a year earlier. New home closings moved from 2 a year earlier to none after the figure moved from none in August 2014 to none in August 2015.
New home closings were none out of the 192 total closings, a move on a percentage basis from 2 of 214 a year earlier. After rising year-over-year in August, closings of new and existing homes declined year-over-year in September.
Other Market Trends
Foreclosures and real estate owned (REO) closings decreased in September from a year earlier, but remained a drag on the market. Out of all existing home closings, foreclosures combined with REO closings made up 28.6% of closings, below 35.4% a year earlier. The percentage of existing home closings involving foreclosures declined to 13.0% in September from 20.8% a year earlier while REO closings as a percentage of existing home closings jumped to 15.6% from 14.6%.