New Home Sales Decrease in Kokomo According to Latest Data
Posted on: Jul 06, 2014 07:18:53 AM
In the Kokomo, IN market in April, new home closings dropped year-over-year, falling after remaining level in March from the year earlier. Closings stood at 0 in April after being 4 a year earlier and remaining unchanged at 1 in March from a year earlier.
On a percentage basis, new home closings as a part of total closings decreased to no part from 2.1% a year earlier. For new and existing homes, closings dropped in April after also declining in March year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings fell in April from a year earlier, but stayed a drag on the market. Together, foreclosures plus REO closings accounted for 25.6% of existing home closings, down from 36.4% a year earlier. The percentage of existing home closings involving foreclosures went from 10.7% in April 2013 to 9.8% in April 2014 and REO closings as a percentage of existing home closings fell to 15.9% from 25.7% a year earlier.
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