New home closings in the Terre Haute, IN market remained steady year-over-year in October, staying flat after dropping year-over-year in September from the year earlier. New home closings moved from none a year earlier to none after the figure moved from 2 in September 2014 to none in September 2015. Closings remained level at none from a year earlier after the figure moved from 2 in September 2014 to none in September 2015.

For new and existing homes, closings declined in October after also declining in September year-over-year.

Other Market Trends

Foreclosures and real estate owned (REO) closings continued to decline from a year earlier in October, but did not look to be a burden on the market. Foreclosures and REO closings, taken together, made up 19.6% of existing closings, lower than 23.2% a year earlier. The percentage of existing home closings involving foreclosures went from 13.5% in October 2014 to 13.6% in October 2015 and REO closings as a percentage of existing home closings sank to 6.0% from 9.8% a year earlier.

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