New Home Closings Steady in Glens Falls According to Latest Figures
Posted on: Mar 06, 2014 07:15:45 AM
Closings of new homes in the Glens Falls, NY market remained steady year-over-year in November, staying level after a year-over-year increase in October from a year earlier. New home closings moved from none a year earlier to none after the figure moved from none in October 2012 to 1 in October 2013. Closings remained level at none from a year earlier after the figure moved from none in October 2012 to 1 in October 2013.
For new and existing homes, closings grew year-over-year in November after also increasing in October year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in November, but did not appear to be dragging the market. Together, foreclosures plus REO closings represented 6.6% of existing home closings, down from 11.1% a year earlier. The percentage of existing home closings involving foreclosures slid to 4.1% in November from 6.3% a year earlier while REO closings as a percentage of existing home closings declined to 2.5% from 4.8% a year earlier.
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