New Home Sales Increase in Great Falls According to Freshest Data
Posted on: May 06, 2013 07:14:09 AM
Closings of new homes in the Great Falls, MT market gained year-over-year in February, rebounding from a year-over-year decline in January 2013. New home closings moved from none a year earlier to one after the figure moved from four in January 2012 to two in January 2013.
A total of 23 new homes were sold during the 12 months that ended in February, up from 22 for the year that ended in January.
Closings of new and existing homes slipped year-over-year in February after also falling in January year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings did not appear to be dragging the market. Together, foreclosures plus REO closings accounted for 21.3% of existing home closings. In February 2012, they made up 29.7%. The percentage of existing home closings involving foreclosures dipped to 7.9% in February from 14.3% a year earlier while REO closings as a percentage of existing home closings declined to 13.5% from 15.4% a year earlier.
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