Jackson, MI - Recent New Home Sales Stay Level
Posted on: May 07, 2012 09:18:30 AM
New home sales in the Jackson, MI market were unchanged year-over-year in February, staying level after a year-over-year increase in January from a year earlier. Sales remained level at none from a year earlier after the figure moved from none in January 2011 to two in January 2012.
A total of 20 new homes were sold during the 12 months that ended in February, equal to the number of new homes sold for the year that ended in January.
For new and existing homes, sales sank in February after also declining in January year-over-year.
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Other Market Trends
Foreclosures and real estate owned (REO) sales fell in February from a year earlier, but stayed a drag on the market. Foreclosures and REO sales, taken together, represented 68.3% of existing sales, lower than 85.2% a year earlier. The percentage of existing home sales involving foreclosures dipped to 31.7% in February from 38.5% a year earlier while REO sales as a percentage of existing home sales slid to 36.6% from 46.7% a year earlier.
Please refer to the ABOUT THIS MSA tab to learn more about geographic coverage and data availability in this market area.
Jackson, MI - Recent New Home Sales Stay Level
Posted on: May 07, 2012 09:18:30 AM
New home sales in the Jackson, MI market were unchanged year-over-year in February, staying level after a year-over-year increase in January from a year earlier. Sales remained level at none from a year earlier after the figure moved from none in January 2011 to two in January 2012.
A total of 20 new homes were sold during the 12 months that ended in February, equal to the number of new homes sold for the year that ended in January.
For new and existing homes, sales sank in February after also declining in January year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) sales fell in February from a year earlier, but stayed a drag on the market. Foreclosures and REO sales, taken together, represented 68.3% of existing sales, lower than 85.2% a year earlier. The percentage of existing home sales involving foreclosures dipped to 31.7% in February from 38.5% a year earlier while REO sales as a percentage of existing home sales slid to 36.6% from 46.7% a year earlier.
Please refer to the ABOUT THIS MSA tab to learn more about geographic coverage and data availability in this market area.
Source: Housing Intelligence