New home closings in the Lewiston, ME market were unchanged year-over-year in November, staying relatively stable after having decreased year-over-year in October. 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 slid year-over-year in November after also falling in October year-over-year.

Other Market Trends

Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in November, but did not look to be a burden on the market. Out of all existing home closings, foreclosures combined with REO closings accounted for 9.3% of closings, below 15.6% a year earlier. The percentage of existing home closings involving foreclosures dropped to 2.7% in November from 3.9% a year earlier while REO closings as a percentage of existing home closings fell to 6.7% from 11.7% a year earlier.

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