The Danville, IL market saw no change in new home closings year-over-year in June, remaining relatively stable after moving north year-over-year in May from the year earlier. New home closings moved from none a year earlier to none after the figure moved from none in May 2014 to 1 in May 2015. Closings remained level at none from a year earlier after the figure moved from none in May 2014 to 1 in May 2015.
Following a year-over-year increase in May, closings of new and existing homes slid year-over-year in June.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to decline from a year earlier in June, but did not appear to be dragging the market. Combined, foreclosures plus REO closings represented 17.7% of existing home closings, below 35.7% a year earlier. The percentage of existing home closings involving foreclosures dropped to 6.2% in June from 14.3% a year earlier while REO closings as a percentage of existing home closings sank to 11.5% from 21.4% a year earlier.