Fairbanks, AK - Local Housing Data - Summary

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Fairbanks, AK Local News

New Home Closings Increase in Fairbanks According to Freshest Data

Posted on: Aug 08, 2014 11:20:38 AM

New home closings moved from none a year earlier to 2 after the figure moved from 2 in March 2013 to 2 in March 2014. Closings stood at 2 in April after being 0 a year earlier and remaining unchanged at 2 in March from a year earlier.

Closings of new and existing homes increased year-over-year in April after also rising in March year-over-year.

Other Market Trends

The average size of newly sold homes was 1,970 in April 2014 while there were no new home closings a year earlier.

Foreclosures and real estate owned (REO) closings continued to rise in April from a year earlier and remained a burden on the market. Foreclosures and REO closings, taken together, accounted for 27.1% of existing home closings, higher than 25.5% a year earlier. The percentage of existing home closings involving foreclosures slid to 5.9% in April from 13.6% a year earlier while REO closings as a percentage of existing home closings rose to 21.2% from 11.8%.

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