New Home Closings in Bloomington Remain at Zero
Posted on: Mar 07, 2013 07:04:14 AM
New home closings in the Bloomington, IN market were unchanged year-over-year in November, staying level after a year-over-year increase in October from a year earlier. Closings remained level at none from a year earlier after the figure moved from none in October 2011 to one in October 2012.
A total of 25 new homes were sold during the 12 months that ended in November, equal to the number of new homes sold for the year that ended in October.
Following a year-over-year increase in October, closings of new and existing homes also climbed year-over-year in November.
Other Market Trends
Foreclosures and real estate owned (REO) closings did not appear to be dragging the market. Out of all existing home closings, foreclosures combined with REO closings made up 12.0% of closings. In November 2011, they represented 15.3%. The percentage of existing home closings involving foreclosures slipped to 2.6% in November from 6.8% a year earlier and REO closings moved from 8.5% of existing home closings in November 2011 to 9.4% in November 2012.
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