Norwich, CT - Recent Figures for New Home Sales Rise Year-Over-Year in February After Decline Year-Over-Year in January
Posted on: May 07, 2012 09:32:19 AM
The Norwich, CT market saw an increase in sales of new homes in February year-over-year, rebounding from a year-over-year decline in January 2012. New home sales moved from none a year earlier to two after the figure moved from five in January 2011 to four in January 2012.
A total of 38 new homes were sold during the 12 months that ended in February, up from 36 for the year that ended in January.
After rising year-over-year in January, sales of new and existing homes dipped year-over-year in February.
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Other Market Trends
Foreclosures and real estate owned (REO) sales stayed a drag on the market. Combined, foreclosures plus REO sales represented 36.0% of existing home sales. In February 2011, they accounted for 28.1%. The percentage of existing home sales involving foreclosures fell to 15.1% in February from 17.0% a year earlier while REO sales as a percentage of existing home sales increased to 20.9% from 11.1%.
Please refer to the ABOUT THIS MSA tab to learn more about geographic coverage and data availability in this market area.
Norwich, CT - Recent Figures for New Home Sales Rise Year-Over-Year in February After Decline Year-Over-Year in January
Posted on: May 07, 2012 09:32:19 AM
The Norwich, CT market saw an increase in sales of new homes in February year-over-year, rebounding from a year-over-year decline in January 2012. New home sales moved from none a year earlier to two after the figure moved from five in January 2011 to four in January 2012.
A total of 38 new homes were sold during the 12 months that ended in February, up from 36 for the year that ended in January.
After rising year-over-year in January, sales of new and existing homes dipped year-over-year in February.
Other Market Trends
Foreclosures and real estate owned (REO) sales stayed a drag on the market. Combined, foreclosures plus REO sales represented 36.0% of existing home sales. In February 2011, they accounted for 28.1%. The percentage of existing home sales involving foreclosures fell to 15.1% in February from 17.0% a year earlier while REO sales as a percentage of existing home sales increased to 20.9% from 11.1%.
Please refer to the ABOUT THIS MSA tab to learn more about geographic coverage and data availability in this market area.
Source: Housing Intelligence