Sioux City, IA - Recent New Home Sales Numbers Suggest Market Decline is Deepening
Posted on: May 07, 2012 09:47:30 AM
In the Sioux City, IA market, new home sales fell year-over-year in January, and the decline was by a larger percentage than the December 2011. New home sales moved from one a year earlier to none after the figure moved from five in December 2010 to one in December 2011.
A total of 34 new homes were sold during the 12 months that ended in January, down from 35 for the year that ended in December.
New home sales accounted for none of the 13 total sales, a smaller percentage compared with one of 97 sales a year earlier. For new and existing homes, sales sank in January after also declining in December year-over-year.
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Other Market Trends
Foreclosures and real estate owned (REO) sales continued to fall from a year earlier in January, but did not appear to be dragging the market. Out of all existing home sales, foreclosures combined with REO sales accounted for 23.1% of sales, below 60.4% a year earlier. The percentage of existing home sales involving foreclosures dropped to 15.4% in January from 34.4% a year earlier while REO sales as a percentage of existing home sales fell to 7.7% from 26.0% a year earlier.
Please refer to the ABOUT THIS MSA tab to learn more about geographic coverage and data availability in this market area.
Sioux City, IA - Recent New Home Sales Numbers Suggest Market Decline is Deepening
Posted on: May 07, 2012 09:47:30 AM
In the Sioux City, IA market, new home sales fell year-over-year in January, and the decline was by a larger percentage than the December 2011. New home sales moved from one a year earlier to none after the figure moved from five in December 2010 to one in December 2011.
A total of 34 new homes were sold during the 12 months that ended in January, down from 35 for the year that ended in December.
New home sales accounted for none of the 13 total sales, a smaller percentage compared with one of 97 sales a year earlier. For new and existing homes, sales sank in January after also declining in December year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) sales continued to fall from a year earlier in January, but did not appear to be dragging the market. Out of all existing home sales, foreclosures combined with REO sales accounted for 23.1% of sales, below 60.4% a year earlier. The percentage of existing home sales involving foreclosures dropped to 15.4% in January from 34.4% a year earlier while REO sales as a percentage of existing home sales fell to 7.7% from 26.0% a year earlier.
Please refer to the ABOUT THIS MSA tab to learn more about geographic coverage and data availability in this market area.
Source: Housing Intelligence