New Home Closings Fall in Sheboygan According to Newest Figures
Posted on: Aug 08, 2014 11:49:37 AM
In the Sheboygan, WI market in May, new home closings declined year-over-year, falling after a rise in April 2014. New home closings moved from 3 a year earlier to none after the figure moved from 1 in April 2013 to 2 in April 2014.
New home closings were 1.5% of total closings a year earlier, and this percentage saw a fall as new home closings this year made up none of the 156 total closings. For new and existing homes, closings slid in May after also declining in April year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings declined in May from a year earlier, but remained a drag on the market. Combined, foreclosures plus REO closings accounted for 25.6% of existing home closings, below 30.1% a year earlier. The percentage of existing home closings involving foreclosures went from 10.4% in May 2013 to 10.9% in May 2014 and REO closings as a percentage of existing home closings declined to 14.7% from 19.7% a year earlier.
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