Freshest Numbers Show New Home Sales Decrease in Battle Creek
Posted on: Apr 06, 2014 07:03:53 AM
In January, there was a decline year-over-year in new home closings in the Battle Creek, MI market, dropping after staying level in December. New home closings moved from 2 a year earlier to none after the figure moved from none in December 2012 to none in December 2013. Closings stood at 0 in January after being 2 a year earlier and remaining unchanged at 0 in December from a year earlier.
On a percentage basis, new home closings as a part of total closings decreased to no part from 1.4% a year earlier. Closings of new and existing homes climbed year-over-year in January after also rising in December year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings decreased in January from a year earlier, but remained a burden on the market. Out of all existing home closings, foreclosures combined with REO closings represented 56.1% of closings, below 64.3% a year earlier. The percentage of existing home closings involving foreclosures fell to 26.0% in January from 35.0% a year earlier and REO closings moved from 29.3% of existing home closings in January 2013 to 30.1% in January 2014.
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