Newest Numbers For Albany Show New Home Closings Increase
Posted on: Apr 06, 2014 07:00:32 AM
New home closings moved from none a year earlier to 3 after the figure moved from 2 in December 2012 to 4 in December 2013.
After rising year-over-year in December, closings of new and existing homes fell year-over-year in January.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to rise in January from a year earlier and remained a burden on the market. Foreclosures and REO closings, taken together, accounted for 51.7% of existing home closings, higher than 45.2% a year earlier. The percentage of existing home closings involving foreclosures rose to 33.3% in January from 20.6% a year earlier while REO closings as a percentage of existing home closings dropped to 18.4% from 24.6% a year earlier.
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