Closings of new homes in the Decatur, IL market remained steady 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.
For new and existing homes, closings slid in January after also declining in December year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings decreased in January from a year earlier, but remained a drag on the market. Combined, foreclosures plus REO closings made up 28.0% of existing home closings, below 38.5% a year earlier. The percentage of existing home closings involving foreclosures declined to 9.7% in January from 22.9% a year earlier while REO closings as a percentage of existing home closings increased to 18.3% from 15.6%.