Michigan City New Home Sales Gain According to Recent Numbers
Posted on: Dec 06, 2013 07:30:18 AM
Rebounding from a year-over-year decline in August 2013. New home closings moved from none a year earlier to 1 after the figure moved from 4 in August 2012 to 3 in August 2013.
Following a year-over-year rise in August, closings of new and existing homes declined year-over-year in September.
Other Market Trends
Foreclosures and real estate owned (REO) closings fell in September from a year earlier, but remained a burden on the market. Together, foreclosures plus REO closings made up 25.3% of existing home closings, down from 39.1% a year earlier. The percentage of existing home closings involving foreclosures sank to 5.3% in September from 23.1% a year earlier while REO closings as a percentage of existing home closings rose to 20.0% from 16.0%.
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