New Home Closings in Kokomo Remain at Zero
Posted on: Feb 13, 2013 07:18:39 AM
New home closings in the Kokomo, IN market were unchanged year-over-year in November, staying level after a year-over-year increase in October from a year earlier. Closings remained level at none from a year earlier after the figure moved from none in October 2011 to two in October 2012.
A total of six new homes were sold during the 12 months that ended in November, equal to the number of new homes sold for the year that ended in October.
Following a year-over-year increase in October, closings of new and existing homes fell year-over-year in November.
Other Market Trends
Foreclosures and real estate owned (REO) closings stayed a drag on the market. Out of all existing home closings, foreclosures combined with REO closings accounted for 32.7% of closings. In November 2011, they made up 37.6%. The percentage of existing home closings involving foreclosures rose to 16.3% in November from 14.8% a year earlier while REO closings as a percentage of existing home closings slipped to 16.3% from 22.8% a year earlier.
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