New Home Closings in Pittsfield Remain at Zero
Posted on: May 06, 2013 07:28:48 AM
Closings of new homes in the Pittsfield, MA market saw no change year-over-year in February, staying flat after dropping year-over-year in January from the year earlier. Closings remained level at none from a year earlier after the figure moved from one in January 2012 to none in January 2013.
A total of one new homes were sold during the 12 months that ended in February, equal to the number of new homes sold for the year that ended in January.
Closings of new and existing homes rose year-over-year in February following a decline in January year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to decline from a year earlier in February, but did not look to be a burden on the market. Foreclosures and REO closings, taken together, represented 19.1% of existing closings, lower than 39.1% a year earlier. The percentage of existing home closings involving foreclosures sank to 1.1% in February from 23.0% a year earlier while REO closings as a percentage of existing home closings increased to 18.0% from 16.1%.
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