Lewiston, ME - Latest New Home Sales Numbers Suggest Market Drop is Deepening
Posted on: Jan 10, 2012 09:20:07 AM
Sales of new homes slid year-over-year in October in the Lewiston, ME market, and the decline was by a larger percentage than the September 2011. New home sales moved from seven a year earlier to none after the figure moved from seven in September 2010 to one in September 2011.
A total of nine new homes were sold during the 12 months that ended in October, down from 16 for the year that ended in September.
New home sales were 9.6% of total sales a year earlier, and this percentage saw a decline as new home sales this year made up none of the 59 total sales. For new and existing homes, sales declined in October after also declining in September year-over-year.
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Other Market Trends
Foreclosures and real estate owned (REO) sales did not appear to be dragging the market. Together, foreclosures plus REO sales made up 13.6% of existing home sales. In October 2010, they represented 15.2%. The percentage of existing home sales involving foreclosures slipped to 1.7% in October from 4.5% a year earlier while REO sales as a percentage of existing home sales increased to 11.9% from 10.6%.
Please refer to the ABOUT THIS MSA tab to learn more about geographic coverage and data availability in this market area.
Lewiston, ME - Latest New Home Sales Numbers Suggest Market Drop is Deepening
Posted on: Jan 10, 2012 09:20:07 AM
Sales of new homes slid year-over-year in October in the Lewiston, ME market, and the decline was by a larger percentage than the September 2011. New home sales moved from seven a year earlier to none after the figure moved from seven in September 2010 to one in September 2011.
A total of nine new homes were sold during the 12 months that ended in October, down from 16 for the year that ended in September.
New home sales were 9.6% of total sales a year earlier, and this percentage saw a decline as new home sales this year made up none of the 59 total sales. For new and existing homes, sales declined in October after also declining in September year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) sales did not appear to be dragging the market. Together, foreclosures plus REO sales made up 13.6% of existing home sales. In October 2010, they represented 15.2%. The percentage of existing home sales involving foreclosures slipped to 1.7% in October from 4.5% a year earlier while REO sales as a percentage of existing home sales increased to 11.9% from 10.6%.
Please refer to the ABOUT THIS MSA tab to learn more about geographic coverage and data availability in this market area.
Source: Housing Intelligence