Closings stood at 1 in December after being 0 a year earlier and remaining unchanged at 0 in November from a year earlier. New home closings moved from none a year earlier to 1 after the figure moved from none in November 2014 to none in November 2015.
Following a year-over-year increase in November, closings of new and existing homes also gained year-over-year in December.
Other Market Trends
Foreclosures and real estate owned (REO) closings fell in December from a year earlier, but remained a drag on the market. Foreclosures and REO closings, taken together, accounted for 35.1% of existing closings, lower than 35.6% a year earlier. The percentage of existing home closings involving foreclosures slid to 17.8% in December from 21.5% a year earlier while REO closings as a percentage of existing home closings jumped to 17.3% from 14.1%.