In the Fond du Lac, WI market in April, new home closings slid year-over-year, and the decline was by a larger percentage than the March 2016. New home closings moved from 1 a year earlier to none after the figure moved from 2 in March 2015 to 1 in March 2016.
None of the 123 total closings were new home closings, a shift on a percentage basis from 1 out of 129 a year earlier. Following a year-over-year decline in March, closings of new and existing homes also fell year-over-year in April.
Other Market Trends
Foreclosures and real estate owned (REO) closings increased in April from a year earlier and did not appear to be dragging the market. Combined, foreclosures plus REO closings represented 22.0% of existing home closings, above 21.1% a year earlier. The percentage of existing home closings involving foreclosures sank to 4.9% in April from 9.4% a year earlier while REO closings as a percentage of existing home closings climbed to 17.1% from 11.7%.