Duluth, MN - Local Housing Data - Summary

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Duluth, MN, WI

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Duluth, MN Local News

Sales of New Homes Unchanged From a Year Ago in Duluth According to Freshest Data

Posted on: Jul 06, 2014 07:10:25 AM

Closings of new homes in the Duluth, MN market remained unchanged year-over-year in March, staying level after a year-over-year increase in February from a year earlier. Closings remained level at none from a year earlier after the figure moved from none in February 2013 to 4 in February 2014. New home closings moved from none a year earlier to none after the figure moved from none in February 2013 to 4 in February 2014.

After new and existing closings grew in February year-over-year, they stayed level in March.

Other Market Trends

Foreclosures and real estate owned (REO) closings continued to rise in March from a year earlier and remained a burden on the market. Foreclosures and REO closings, taken together, accounted for 34.3% of existing home closings, up from 32.6% a year earlier. The percentage of existing home closings involving foreclosures rose to 15.7% in March from 14.5% a year earlier and REO closings moved from 18.2% of existing home closings in March 2013 to 18.5% in March 2014.

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