New Home Closings Increase in Altoona According to Recent Data
Posted on: Feb 12, 2014 07:00:52 AM
Rebounding from a year-over-year decline in September 2013. New home closings moved from none a year earlier to 1 after the figure moved from 2 in September 2012 to 1 in September 2013.
Following a year-over-year increase in September, closings of new and existing homes also grew year-over-year in October.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in October, but did not look to be a burden on the market. Combined, foreclosures plus REO closings represented 16.2% of existing home closings, below 19.1% a year earlier. The percentage of existing home closings involving foreclosures rose to 15.4% in October from 10.7% a year earlier while REO closings as a percentage of existing home closings declined to 0.7% from 8.4% a year earlier.
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