New Home Closings in Janesville Fall to Zero
Posted on: May 06, 2013 07:17:42 AM
In the Janesville, WI market in January, new home closings dropped year-over-year, a decline following a rise in December 2012. New home closings moved from three a year earlier to none after the figure moved from two in December 2011 to four in December 2012.
A total of 65 new homes were sold during the 12 months that ended in January, down from 68 for the year that ended in December.
Out of one total closings, none were of new homes, which makes up a smaller percentage than the three out of 166 total closings last year. Closings of new and existing homes sank year-over-year in January after also falling in December year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in January, but did not look to be a burden on the market. Combined, foreclosures plus REO closings accounted for no part of existing home closings, below 58.9% a year earlier. The percentage of existing home closings involving foreclosures slid to no part in January from 39.3% a year earlier while REO closings as a percentage of existing home closings declined to no part from 19.6% a year earlier.
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