New Home Closings in Springfield Remain at Zero
Posted on: Apr 06, 2013 07:32:34 AM
Closings of new homes in the Springfield, OH market remained steady year-over-year in January, staying flat after dropping year-over-year in December from the year earlier. Closings remained level at none from a year earlier after the figure moved from four in December 2011 to none in December 2012.
A total of six new homes were sold during the 12 months that ended in January, equal to the number of new homes sold for the year that ended in December.
For new and existing homes, closings increased year-over-year in January after also increasing in December year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings remained a drag on the market. Combined, foreclosures plus REO closings represented 56.1% of existing home closings. They made up 63.3% in January 2012. The percentage of existing home closings involving foreclosures fell to 33.1% in January from 42.2% a year earlier while REO closings as a percentage of existing home closings rose to 22.9% from 21.1%.
Please refer to the ABOUT THIS MSA tab to learn more about geographic coverage and data availability in the Springfield, OH area.