New home closings in the Pocatello, ID market were unchanged year-over-year in March, staying relatively stable after having decreased year-over-year in February. New home closings moved from none a year earlier to none after the figure moved from 1 in February 2015 to none in February 2016. Closings remained level at none from a year earlier after the figure moved from 1 in February 2015 to none in February 2016.

Closings of new and existing homes climbed in March after staying steady in February from a year earlier.

Other Market Trends

Foreclosures and real estate owned (REO) closings continued to fall from a year earlier in March, but did not look to be a burden on the market. Together, foreclosures plus REO closings made up 14.8% of existing home closings, down from 27.9% a year earlier. The percentage of existing home closings involving foreclosures fell to 6.5% in March from 13.6% a year earlier while REO closings as a percentage of existing home closings dropped to 8.4% from 14.3% a year earlier.

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