New home closings in the Kingston, NY market were unchanged year-over-year in November, staying level after a year-over-year decline in October from the year earlier. Closings remained level at none from a year earlier after the figure moved from 2 in October 2014 to none in October 2015. New home closings moved from none a year earlier to none after the figure moved from 2 in October 2014 to none in October 2015.
Closings of new and existing homes grew year-over-year in November following a decline in October year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to increase in November from a year earlier and remained a drag on the market. Foreclosures and REO closings, taken together, accounted for 28.0% of existing home closings, higher than 20.4% a year earlier. The percentage of existing home closings involving foreclosures rose to 16.1% in November from 11.7% a year earlier while REO closings as a percentage of existing home closings gained to 11.9% from 8.6%.