New home closings moved from none a year earlier to 1 after the figure moved from none in September 2014 to none in September 2015. Closings stood at 1 in October after being 0 a year earlier and remaining unchanged at 0 in September from a year earlier.
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, represented 6.3% of existing closings, lower than 21.2% a year earlier. The percentage of existing home closings involving foreclosures sank to no part in October from 13.9% a year earlier and REO closings moved from 7.3% of existing home closings in October 2014 to 6.3% in October 2015.