New home closings in the Mansfield, OH market remained steady 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.

After dropping in January from a year earlier, closings of new and existing homes increased year-over-year in February.

Other Market Trends

Foreclosures and real estate owned (REO) closings continued to increase in February from a year earlier and stayed a drag on the market. Foreclosures and REO closings, taken together, made up 42.3% of existing home closings, higher than 32.9% a year earlier. The percentage of existing home closings involving foreclosures rose to 26.0% in February from 19.0% a year earlier while REO closings as a percentage of existing home closings jumped to 16.3% from 13.9%.

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