New Home Closings Rise in Bloomington According to Recent Data
Posted on: Jul 06, 2014 07:04:06 AM
New home closings moved from none a year earlier to 10 after the figure moved from 3 in March 2013 to 5 in March 2014.
Closings of new and existing homes climbed year-over-year in April after also rising in March year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings declined in April from a year earlier, but remained a drag on the market. Together, foreclosures plus REO closings accounted for 41.8% of existing home closings, down from 87.7% a year earlier. The percentage of existing home closings involving foreclosures dropped to 34.0% in April from 54.4% a year earlier while REO closings as a percentage of existing home closings sank to 7.7% from 33.3% a year earlier.
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