New Home Closings Steady in Carson City According to Latest Figures
Posted on: Aug 08, 2014 11:12:30 AM
Closings of new homes in the Carson City, NV market saw no change year-over-year in May, staying flat after dropping year-over-year in April from the year earlier. Closings remained level at none from a year earlier after the figure moved from 1 in April 2013 to none in April 2014. New home closings moved from none a year earlier to none after the figure moved from 1 in April 2013 to none in April 2014.
Following a year-over-year rise in April, closings of new and existing homes dropped year-over-year in May.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to increase in May from a year earlier and remained a burden on the market. Foreclosures and REO closings, taken together, represented 31.1% of existing home closings, up from 21.8% a year earlier. The percentage of existing home closings involving foreclosures rose to 13.5% in May from 11.5% a year earlier while REO closings as a percentage of existing home closings rose to 17.6% from 10.3%.
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