The Glens Falls, NY market saw no change in new home closings year-over-year in February, staying relatively stable after having decreased year-over-year in January. Closings remained level at none from a year earlier after the figure moved from 1 in January 2015 to none in January 2016. New home closings moved from none a year earlier to none after the figure moved from 1 in January 2015 to none in January 2016.
Closings of new and existing homes fell year-over-year in February after also falling in January year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings fell in February from a year earlier, but remained a drag on the market. Foreclosures and REO closings, taken together, accounted for 26.7% of existing closings, lower than 36.6% a year earlier. The percentage of existing home closings involving foreclosures sank to 16.7% in February from 24.4% a year earlier while REO closings as a percentage of existing home closings declined to 10.0% from 12.2% a year earlier.