New Home Closings Climb in El Paso According to Recent Data
Posted on: Dec 06, 2013 07:14:47 AM
New home closings moved from none a year earlier to 1 after the figure moved from none in July 2012 to none in July 2013. Closings stood at 1 in August after being 0 a year earlier and remaining unchanged at 0 in July from a year earlier.
For new and existing homes, closings sank in August after also declining in July year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings rose in August from a year earlier and did not look to be a burden on the market. Foreclosures and REO closings, taken together, accounted for 8.4% of existing home closings, higher than 7.4% a year earlier. The percentage of existing home closings involving foreclosures went from 4.3% in August 2012 to 3.6% in August 2013 and REO closings as a percentage of existing home closings jumped to 4.8% from 3.2%.
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