New Home Closings Drop in Decatur According to Newest Figures
Posted on: Jul 06, 2014 07:09:34 AM
In the Decatur, IL market, closings of new homes dropped year-over-year in April, declining after staying relatively stable in March from the year earlier. Closings stood at 0 in April after being 2 a year earlier and remaining unchanged at 1 in March from a year earlier.
New home closings were none out of the 124 total closings, down on a percentage basis from 2 of 133 a year earlier. Closings of new and existing homes fell year-over-year in April after also falling in March year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings decreased in April from a year earlier, but remained a drag on the market. Out of all existing home closings, foreclosures combined with REO closings represented 33.1% of closings, below 34.4% a year earlier. The percentage of existing home closings involving foreclosures stayed at 13.7% of closings in April from a year earlier while REO closings as a percentage of existing home closings slid to 19.4% from 20.6% a year earlier.
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