New home closings in the Hot Springs, AR market remained steady year-over-year in January, staying relatively stable after having decreased year-over-year in December. Closings remained level at none from a year earlier after the figure moved from 4 in December 2014 to none in December 2015. New home closings moved from none a year earlier to none after the figure moved from 4 in December 2014 to none in December 2015.

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 decreased in January from a year earlier, but stayed a drag on the market. Foreclosures and REO closings, taken together, accounted for 27.5% of existing closings, lower than 28.6% a year earlier. The percentage of existing home closings involving foreclosures rose to 18.6% in January from 12.8% a year earlier while REO closings as a percentage of existing home closings declined to 8.8% from 15.8% a year earlier.

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