Michigan City New Home Sales Gain According to Recent Numbers
Posted on: May 06, 2013 07:23:43 AM
The Michigan City, IN market saw an increase in closings of new homes in February year-over-year, rising after staying stable in January from the year earlier. Closings stood at three in February after being zero a year earlier and remaining unchanged at zero in January from a year earlier.
A total of 21 new homes were sold during the 12 months that ended in February, up from 18 for the year that ended in January.
Following a year-over-year increase in January, closings of new and existing homes also increased year-over-year in February.
Other Market Trends
Foreclosures and real estate owned (REO) closings remained a burden on the market. Together, foreclosures plus REO closings represented 49.2% of existing home closings. They accounted for 47.8% in February 2012. The percentage of existing home closings involving foreclosures dipped to 25.0% in February from 31.3% a year earlier while REO closings as a percentage of existing home closings rose to 24.2% from 16.5%.
Please refer to the ABOUT THIS MSA tab to learn more about geographic coverage and data availability in the Michigan City, IN area.
Michigan City New Home Sales Gain According to Recent Numbers
Posted on: May 06, 2013 07:23:43 AM
The Michigan City, IN market saw an increase in closings of new homes in February year-over-year, rising after staying stable in January from the year earlier. Closings stood at three in February after being zero a year earlier and remaining unchanged at zero in January from a year earlier.
A total of 21 new homes were sold during the 12 months that ended in February, up from 18 for the year that ended in January.
Following a year-over-year increase in January, closings of new and existing homes also increased year-over-year in February.
Other Market Trends
Foreclosures and real estate owned (REO) closings remained a burden on the market. Together, foreclosures plus REO closings represented 49.2% of existing home closings. They accounted for 47.8% in February 2012. The percentage of existing home closings involving foreclosures dipped to 25.0% in February from 31.3% a year earlier while REO closings as a percentage of existing home closings rose to 24.2% from 16.5%.
Please refer to the ABOUT THIS MSA tab to learn more about geographic coverage and data availability in the Michigan City, IN area.
Source: Housing Intelligence