New Home Sales Climb in Michigan City According to Freshest Data
Posted on: Apr 06, 2014 07:26:57 AM
Closings stood at 1 in January after being 0 a year earlier and remaining unchanged at 1 in December from a year earlier. New home closings moved from none a year earlier to 1 after the figure moved from 1 in December 2012 to 1 in December 2013.
Following a year-over-year rise in December, closings of new and existing homes slid year-over-year in January.
Other Market Trends
Foreclosures and real estate owned (REO) closings decreased in January from a year earlier, but stayed a drag on the market. Out of all existing home closings, foreclosures combined with REO closings accounted for 40.7% of closings, below 42.5% a year earlier. The percentage of existing home closings involving foreclosures fell to 13.8% in January from 20.9% a year earlier while REO closings as a percentage of existing home closings rose to 26.8% from 21.6%.
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