Battle Creek, MI - Newest New Home Sales Decline Year-Over-Year in January After Rising Year-Over-Year in December
Posted on: Apr 09, 2012 07:09:46 PM
New home sales dropped year-over-year in January in the Battle Creek, MI market, a decline following a rise in December 2011. New home sales moved from three a year earlier to one after the figure moved from one in December 2010 to two in December 2011.
A total of 26 new homes were sold during the 12 months that ended in January, down from 28 for the year that ended in December.
New home sales were one out of the 165 total sales, a move on a percentage basis from three of 228 a year earlier. Following a year-over-year increase in December, sales of new and existing homes sank year-over-year in January.
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Other Market Trends
There was no change in the composition of the new-home market with regard to the types of properties sold in January 2012. Single-family homes continued to account for all of new home sales.
Foreclosures and real estate owned (REO) sales stayed a drag on the market. Together, foreclosures plus REO sales represented 68.9% of existing home sales. They accounted for 77.3% in January 2011. The percentage of existing home sales involving foreclosures slipped to 37.8% in January from 45.3% a year earlier and REO sales moved from 32.0% of existing home sales in January 2011 to 31.1% in January 2012.
Battle Creek, MI - Newest New Home Sales Decline Year-Over-Year in January After Rising Year-Over-Year in December
Posted on: Apr 09, 2012 07:09:46 PM
New home sales dropped year-over-year in January in the Battle Creek, MI market, a decline following a rise in December 2011. New home sales moved from three a year earlier to one after the figure moved from one in December 2010 to two in December 2011.
A total of 26 new homes were sold during the 12 months that ended in January, down from 28 for the year that ended in December.
New home sales were one out of the 165 total sales, a move on a percentage basis from three of 228 a year earlier. Following a year-over-year increase in December, sales of new and existing homes sank year-over-year in January.
Other Market Trends
There was no change in the composition of the new-home market with regard to the types of properties sold in January 2012. Single-family homes continued to account for all of new home sales.
Foreclosures and real estate owned (REO) sales stayed a drag on the market. Together, foreclosures plus REO sales represented 68.9% of existing home sales. They accounted for 77.3% in January 2011. The percentage of existing home sales involving foreclosures slipped to 37.8% in January from 45.3% a year earlier and REO sales moved from 32.0% of existing home sales in January 2011 to 31.1% in January 2012.
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Source: Housing Intelligence