New Home Closings Fall in Barnstable Town According to Latest Figures
Posted on: Aug 08, 2014 11:09:00 AM
In March, the Barnstable Town, MA market saw a decline year-over-year in new home closings, falling after remaining level in February from the year earlier. Closings stood at 0 in March after being 3 a year earlier and remaining unchanged at 0 in February from a year earlier. New home closings moved from 3 a year earlier to none after the figure moved from none in February 2013 to none in February 2014.
None of the 325 total closings were new home closings, a shift on a percentage basis from 3 out of 356 a year earlier. Following a year-over-year decline in February, closings of new and existing homes also slid year-over-year in March.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to decline from a year earlier in March, but did not appear to be dragging the market. Combined, foreclosures plus REO closings made up 8.9% of existing home closings, below 12.2% a year earlier. The percentage of existing home closings involving foreclosures went from 2.8% in March 2013 to 1.8% in March 2014 and REO closings as a percentage of existing home closings fell to 7.1% from 9.3% a year earlier.
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