New Home Sales Drop in Muncie According to Freshest Data
Posted on: May 13, 2014 07:28:46 AM
In February, there was a drop year-over-year in new home closings in the Muncie, IN market, falling after remaining level in January from the year earlier. Closings stood at 0 in February after being 1 a year earlier and remaining unchanged at 1 in January from a year earlier.
None of the 138 total closings were new home closings, a shift on a percentage basis from 1 out of 174 a year earlier. Closings of new and existing homes declined year-over-year in February after also falling in January year-over-year.
Other Market Trends
There were no new home closings in February 2014, but average size of newly sold homes was 1,568 a year earlier.
Foreclosures and real estate owned (REO) closings fell in February from a year earlier, but remained a burden on the market. Out of all existing home closings, foreclosures combined with REO closings made up 34.8% of closings, below 43.4% a year earlier. The percentage of existing home closings involving foreclosures sank to 16.7% in February from 18.5% a year earlier while REO closings as a percentage of existing home closings slid to 18.1% from 24.9% a year earlier.
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