Latest Numbers Show New Home Sales Decline in Bangor
Posted on: Dec 06, 2013 07:04:03 AM
In the Bangor, ME market, closings of new homes slid year-over-year in September, dropping after a year-over-year increase in August 2013. New home closings moved from 1 a year earlier to none after the figure moved from 4 in August 2012 to 5 in August 2013.
New home closings were none out of the 119 total closings, a move on a percentage basis from 1 of 101 a year earlier. Closings of new and existing homes grew year-over-year in September after also rising in August year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to fall from a year earlier in September, but did not appear to be dragging the market. Together, foreclosures plus REO closings made up 10.1% of existing home closings, down from 11.0% a year earlier. The percentage of existing home closings involving foreclosures went from 3.0% in September 2012 to 2.5% in September 2013 and REO closings moved from 8.0% of existing home closings in September 2012 to 7.6% in September 2013.
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