Freshest Figures Indicate New Home Closings in Utica Decrease
Posted on: Mar 06, 2014 07:43:55 AM
In November, there was a fall year-over-year in new home closings in the Utica, NY market, falling after remaining level in October from the year earlier. Closings stood at 0 in November after being 3 a year earlier and remaining unchanged at 0 in October from a year earlier. New home closings moved from 3 a year earlier to none after the figure moved from none in October 2012 to none in October 2013.
New home closings were none out of the 11 total closings, down on a percentage basis from 3 of 198 a year earlier. Closings of new and existing homes declined year-over-year in November after also falling in October year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to fall from a year earlier in November, but did not appear to be dragging the market. Combined, foreclosures plus REO closings accounted for no part of existing home closings, below 4.6% a year earlier. The percentage of existing home closings involving foreclosures sank to no part in November from 2.6% a year earlier while REO closings as a percentage of existing home closings fell to no part from 2.1% a year earlier.
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