Binghamton, NY - Local Housing Data - Summary

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Binghamton, NY Local News

Binghamton, NY - Freshest New Home Closings Numbers Fall

Posted on: Sep 05, 2013 07:04:26 AM

Closings of new homes declined year-over-year in April in the Binghamton, NY market, falling after remaining level in March from the year earlier. Closings stood at 0 in April after being 1 a year earlier and remaining unchanged at 0 in March from a year earlier. New home closings moved from 1 a year earlier to none after the figure moved from none in March 2012 to none in March 2013.

New home closings were none out of the 135 total closings, a move on a percentage basis from 1 of 169 a year earlier. Closings of new and existing homes sank year-over-year in April after also falling in March year-over-year.

Other Market Trends

Foreclosures and real estate owned (REO) closings rose in April from a year earlier and did not appear to be dragging the market. Combined, foreclosures plus REO closings accounted for 7.4% of existing home closings, above 6.5% a year earlier. The percentage of existing home closings involving foreclosures slid to 1.5% in April from 3.6% a year earlier while REO closings as a percentage of existing home closings gained to 5.9% from 3.0%.

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