Closings of new homes in the Sandusky, OH market saw no change year-over-year in July, staying level after a year-over-year decline in June from the year earlier. New home closings moved from none a year earlier to none after the figure moved from 2 in June 2014 to none in June 2015. Closings remained level at none from a year earlier after the figure moved from 2 in June 2014 to none in June 2015.
Closings of new and existing homes increased year-over-year in July after also rising in June year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to rise in July from a year earlier and remained a drag on the market. Together, foreclosures plus REO closings made up 27.3% of existing home closings, up from 24.1% a year earlier. The percentage of existing home closings involving foreclosures rose to 18.2% in July from 16.4% a year earlier while REO closings as a percentage of existing home closings jumped to 9.1% from 7.8%.