New Home Closings Drop in Battle Creek According to Newest Figures
Posted on: Dec 06, 2013 07:04:23 AM
In the Battle Creek, MI market in September, new home closings declined year-over-year, falling after a rise in August 2013. New home closings moved from 1 a year earlier to none after the figure moved from 1 in August 2012 to 3 in August 2013.
New home closings were none out of the 207 total closings, a move on a percentage basis from 1 of 211 a year earlier. Closings of new and existing homes saw a fall year-over-year in September after remaining steady in August year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings declined in September from a year earlier, but remained a burden on the market. Out of all existing home closings, foreclosures combined with REO closings accounted for 56.0% of closings, below 58.6% a year earlier. The percentage of existing home closings involving foreclosures dropped to 15.0% in September from 31.0% a year earlier while REO closings as a percentage of existing home closings rose to 41.1% from 27.6%.
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