New home closings in the Youngstown, OH market stayed the same year-over-year in June, staying relatively stable after having decreased year-over-year in May. Closings remained level at 1 from a year earlier after the figure moved from 8 in May 2015 to none in May 2016.
1 of the 694 total closings were new home closings, consistent with the year-earlier figures in terms of percentage. For new and existing homes, closings dropped in June after also declining in May year-over-year.
The average price for newly sold homes moved north to $226,500 from $69,000 a year ago. This was on the heels of a.
Other Market Trends
The share of new home closings made up by attached units has risen while the share belonging to single-family homes has fallen.
Foreclosures and real estate owned (REO) closings declined in June from a year earlier, but stayed a drag on the market. Out of all existing home closings, foreclosures combined with REO closings made up 26.0% of closings, below 28.8% a year earlier. The percentage of existing home closings involving foreclosures rose to 15.9% in June from 13.8% a year earlier while REO closings as a percentage of existing home closings sank to 10.1% from 15.0% a year earlier.