The Decatur, IL market saw no change in new home closings year-over-year in July, staying flat after dropping year-over-year in June from the year earlier. Closings remained level at none from a year earlier after the figure moved from 1 in June 2015 to none in June 2016. New home closings moved from none a year earlier to none after the figure moved from 1 in June 2015 to none in June 2016.
Following a year-over-year rise in June, closings of new and existing homes sank year-over-year in July.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to increase in July from a year earlier and stayed a drag on the market. Foreclosures and REO closings, taken together, made up 39.4% of existing home closings, higher than 17.7% a year earlier. The percentage of existing home closings involving foreclosures declined to 4.7% in July from 6.9% a year earlier while REO closings as a percentage of existing home closings climbed to 34.7% from 10.8%.