Jackson, MI - Local Housing Data - Summary

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Jackson, MI Local News

Sales of New Homes Unchanged From a Year Ago in Jackson According to Recent Data

Posted on: Jul 06, 2014 07:16:52 AM

The Jackson, MI market saw no change in new home closings year-over-year in April, staying flat after advancing year-over-year in March from the year earlier. New home closings moved from none a year earlier to none after the figure moved from none in March 2013 to 1 in March 2014. Closings remained level at none from a year earlier after the figure moved from none in March 2013 to 1 in March 2014.

Following a year-over-year decline in March, closings of new and existing homes also dropped year-over-year in April.

Other Market Trends

Foreclosures and real estate owned (REO) closings fell in April from a year earlier, but stayed a drag on the market. Combined, foreclosures plus REO closings represented 52.5% of existing home closings, below 56.4% a year earlier. The percentage of existing home closings involving foreclosures rose to 29.3% in April from 27.5% a year earlier while REO closings as a percentage of existing home closings sank to 23.2% from 28.9% a year earlier.

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