New Home Sales and Prices Both Increase in Eau Claire According to Recent Data
Posted on: Dec 06, 2013 07:13:54 AM
In August, closings of new homes climbed year-over-year in the Eau Claire, WI market, and the increase was greater than July 2013. New home closings moved from 2 a year earlier to 8 after the figure moved from 7 in July 2012 to 8 in July 2013.
New home closings were 8 out of 188 total closings, making up 4.3%. This is up on a percentage basis from 2 of 241 a year earlier. Closings of new and existing homes dropped year-over-year in August after also falling in July year-over-year.
The average new home value went from $204,950 last year to $209,850. This was on the heels of a 5.9% decline in July from a year earlier.
Other Market Trends
The share of new home closings made up by attached units has risen while the share belonging to single-family homes has fallen.
Foreclosures and real estate owned (REO) closings continued to fall from a year earlier in August, but did not appear to be dragging the market. Foreclosures and REO closings, taken together, accounted for 15.6% of existing closings, lower than 17.2% a year earlier. The percentage of existing home closings involving foreclosures sank to 7.2% in August from 9.6% a year earlier and REO closings moved from 7.5% of existing home closings in August 2012 to 8.3% in August 2013.