Danville, IL - Newest New Home Closings Stay Level
Posted on: Nov 13, 2012 09:54:51 AM
New home closings in the Danville, IL market were unchanged year-over-year in July, staying level after a year-over-year decline in June from the year earlier. Closings remained level at none from a year earlier after the figure moved from one in June 2011 to none in June 2012.
After rising year-over-year in June, closings of new and existing homes slid year-over-year in July.
Other Market Trends
Foreclosures and real estate owned (REO) closings declined in July from a year earlier, but remained a burden on the market. Out of all existing home closings, foreclosures combined with REO closings made up 30.0% of closings, below 59.7% a year earlier. The percentage of existing home closings involving foreclosures dropped to 12.0% in July from 40.3% a year earlier while REO closings as a percentage of existing home closings fell to 18.0% from 19.4% a year earlier.
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