New Home Closings Steady in Glens Falls According to Latest Figures
Posted on: Oct 06, 2013 07:15:42 AM
The Glens Falls, NY market saw no change in new home closings year-over-year in June, staying relatively stable after having decreased year-over-year in May. New home closings moved from none a year earlier to none after the figure moved from 2 in May 2012 to none in May 2013. Closings remained level at none from a year earlier after the figure moved from 2 in May 2012 to none in May 2013.
Following a year-over-year increase in May, closings of new and existing homes dropped year-over-year in June.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in June, but did not appear to be dragging the market. Foreclosures and REO closings, taken together, accounted for 9.2% of existing closings, lower than 19.6% a year earlier. The percentage of existing home closings involving foreclosures rose to 3.3% in June from 1.1% a year earlier while REO closings as a percentage of existing home closings sank to 5.9% from 18.4% a year earlier.
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