Latest Figures Show New Home Sales Increase in Jackson
Posted on: Nov 12, 2013 07:21:37 AM
Closings stood at 1 in August after being 0 a year earlier and remaining unchanged at 0 in July from a year earlier. New home closings moved from none a year earlier to 1 after the figure moved from none in July 2012 to none in July 2013.
For new and existing homes, closings sank in August after also declining in July year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings decreased in August from a year earlier, but stayed a drag on the market. Combined, foreclosures plus REO closings made up 40.4% of existing home closings, below 69.7% a year earlier. The percentage of existing home closings involving foreclosures declined to 15.4% in August from 30.8% a year earlier while REO closings as a percentage of existing home closings dropped to a quarter from 38.9% a year earlier.
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