Pocatello, ID - Local Housing Data - Summary

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Pocatello, ID

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Pocatello, ID Local News

Sales of New Homes Unchanged From a Year Ago in Pocatello According to Newest Data

Posted on: Aug 08, 2014 11:42:33 AM

The Pocatello, ID market saw no change in new home closings year-over-year in May, staying relatively stable after having decreased year-over-year in April. New home closings moved from none a year earlier to none after the figure moved from 3 in April 2013 to none in April 2014. Closings remained level at none from a year earlier after the figure moved from 3 in April 2013 to none in April 2014.

Following a drop in April year-over-year, closings of new and existing homes jumped year-over-year in May.

Other Market Trends

Foreclosures and real estate owned (REO) closings increased in May from a year earlier and did not appear to be dragging the market. Foreclosures and REO closings, taken together, made up 21.2% of existing home closings, higher than 19.1% a year earlier. The percentage of existing home closings involving foreclosures fell to 7.7% in May from 13.0% a year earlier while REO closings as a percentage of existing home closings grew to 13.5% from 6.1%.

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