Prices of New Homes Increase in La Crosse, Sales Drop According to Latest Data
Posted on: Jul 06, 2014 07:19:02 AM
In the La Crosse, WI market in March, new home closings fell year-over-year, but the decline was less than the year-over-year decline in February. New home closings moved from 2 a year earlier to 1 after the figure moved from 1 in February 2013 to none in February 2014.
New home closings were 1 out of the 70 total closings, a move on a percentage basis from 2 of 160 a year earlier. For new and existing homes, closings fell in March after also declining in February year-over-year.
The average price of new homes rose to $214,900 from last year's $182,500. This followed a.
Other Market Trends
As a share of new home closings, single-family home closings have risen from last year while the share belonging to attached units has fallen.
Foreclosures and real estate owned (REO) closings continued to fall from a year earlier in March, but did not appear to be dragging the market. Foreclosures and REO closings, taken together, made up 17.4% of existing closings, lower than 18.4% a year earlier. The percentage of existing home closings involving foreclosures went from 9.5% in March 2013 to 10.1% in March 2014 and REO closings as a percentage of existing home closings dropped to 7.2% from 8.9% a year earlier.