New Home Closings Steady in Lewiston According to Recent Figures
Posted on: Aug 08, 2014 11:32:24 AM
New home closings in the Lewiston, ME market were unchanged year-over-year in May, staying level after a year-over-year decline in April from the year earlier. New home closings moved from none a year earlier to none after the figure moved from 1 in April 2013 to none in April 2014. Closings remained level at none from a year earlier after the figure moved from 1 in April 2013 to none in April 2014.
After staying stable in April from a year earlier, closings of new and existing homes jumped 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. Combined, foreclosures plus REO closings accounted for 18.4% of existing home closings, above 12.1% a year earlier. The percentage of existing home closings involving foreclosures rose to 8.7% in May from 6.1% a year earlier while REO closings as a percentage of existing home closings grew to 9.7% from 6.1%.
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