New Home Closings Steady in Pittsfield According to Recent Figures
Posted on: Apr 06, 2014 07:33:06 AM
New home closings in the Pittsfield, MA market remained steady year-over-year in January, staying level after a year-over-year increase in December from a year earlier. New home closings moved from none a year earlier to none after the figure moved from none in December 2012 to 1 in December 2013. Closings remained level at none from a year earlier after the figure moved from none in December 2012 to 1 in December 2013.
Closings of new and existing homes rose year-over-year in January after also rising in December year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to decline from a year earlier in January, but did not appear to be dragging the market. Foreclosures and REO closings, taken together, accounted for 16.2% of existing closings, lower than 17.2% a year earlier. The percentage of existing home closings involving foreclosures went from 6.1% in January 2013 to 6.3% in January 2014 and REO closings as a percentage of existing home closings slid to 9.9% from 11.1% a year earlier.
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