New Home Closings Steady in Utica According to Newest Figures
Posted on: Aug 08, 2014 11:54:22 AM
Closings of new homes in the Utica, NY market saw no change year-over-year in March, staying flat after dropping year-over-year in February from the year earlier. Closings remained level at none from a year earlier after the figure moved from 3 in February 2013 to none in February 2014. New home closings moved from none a year earlier to none after the figure moved from 3 in February 2013 to none in February 2014.
Following a year-over-year decline in February, closings of new and existing homes also dropped year-over-year in March.
Other Market Trends
Foreclosures and real estate owned (REO) closings rose in March from a year earlier and did not appear to be dragging the market. Combined, foreclosures plus REO closings made up 21.4% of existing home closings, above 7.1% a year earlier. The percentage of existing home closings involving foreclosures declined to no part in March from 3.9% a year earlier while REO closings as a percentage of existing home closings increased to 21.4% from 3.2%.
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