Closings of new homes in the Barnstable Town, MA market saw no change year-over-year in January, staying flat after dropping year-over-year in December from the year earlier. New home closings moved from none a year earlier to none after the figure moved from 1 in December 2014 to none in December 2015. Closings remained level at none from a year earlier after the figure moved from 1 in December 2014 to none in December 2015.
Following a year-over-year rise in December, closings of new and existing homes slid year-over-year in January.
Other Market Trends
Foreclosures and real estate owned (REO) closings rose in January from a year earlier and did not appear to be dragging the market. Combined, foreclosures plus REO closings represented 16.6% of existing home closings, above 14.8% a year earlier. The percentage of existing home closings involving foreclosures went from 8.2% in January 2015 to 8.6% in January 2016 and REO closings as a percentage of existing home closings grew to 8.0% from 6.5%.