New home closings in the Parkersburg, WV market stayed the same year-over-year in May, staying relatively stable after having decreased year-over-year in April. Closings remained level at none from a year earlier after the figure moved from 1 in April 2015 to none in April 2016. New home closings moved from none a year earlier to none after the figure moved from 1 in April 2015 to none in April 2016.
For new and existing homes, closings jumped year-over-year in May after also increasing in April year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings rose in May from a year earlier and did not appear to be dragging the market. Foreclosures and REO closings, taken together, made up 14.9% of existing home closings, higher than 9.8% a year earlier. The percentage of existing home closings involving foreclosures stayed at 6.6% of closings in May from a year earlier while REO closings as a percentage of existing home closings grew to 8.3% from 3.3%.