Latest Figures Indicate New Home Closings in Springfield Fall
Posted on: Oct 06, 2013 07:40:55 AM
In July, there was a fall year-over-year in new home closings in the Springfield, OH market, dropping after a year-over-year increase in June 2013. New home closings moved from 2 a year earlier to none after the figure moved from 2 in June 2012 to 3 in June 2013.
New home closings were none out of the 232 total closings, a move on a percentage basis from 2 of 229 a year earlier. For new and existing homes, closings gained year-over-year in July after also increasing in June year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to increase in July from a year earlier and remained a drag on the market. Together, foreclosures plus REO closings accounted for 46.6% of existing home closings, up from 42.7% a year earlier. The percentage of existing home closings involving foreclosures dropped to 19.8% in July from 22.9% a year earlier while REO closings as a percentage of existing home closings rose to 26.7% from 19.8%.
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