New Home Closings Steady in Brunswick According to Recent Figures
Posted on: Aug 08, 2014 11:11:49 AM
New home closings in the Brunswick, GA market were unchanged year-over-year in May, staying relatively stable after having decreased year-over-year in April. Closings remained level at none from a year earlier after the figure moved from 1 in April 2013 to none in April 2014. New home closings moved from none a year earlier to none after the figure moved from 1 in April 2013 to none in April 2014.
Following a year-over-year decline in April, closings of new and existing homes also declined year-over-year in May.
Other Market Trends
Foreclosures and real estate owned (REO) closings declined in May from a year earlier, but stayed a drag on the market. Foreclosures and REO closings, taken together, made up 43.2% of existing closings, lower than 55.4% a year earlier. The percentage of existing home closings involving foreclosures fell to 15.8% in May from 17.7% a year earlier while REO closings as a percentage of existing home closings sank to 27.4% from 37.7% a year earlier.
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