New Home Sales Drop in Charleston According to Newest Data
Posted on: Jan 01, 2014 07:06:56 AM
New home closings in the Charleston, WV market fell year-over-year in July, falling after remaining level in June from the year earlier. New home closings moved from 1 a year earlier to none after the figure moved from none in June 2012 to none in June 2013. Closings stood at 0 in July after being 1 a year earlier and remaining unchanged at 0 in June from a year earlier.
Last year, 1 of 85 total closings were new homes, and this percentage saw a decline as new home closings this year made up none of the 88 total closings. Following a year-over-year increase in June, closings of new and existing homes also rose year-over-year in July.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in July, but did not look to be a burden on the market. Together, foreclosures plus REO closings represented 4.5% of existing home closings, down from 4.8% a year earlier. The percentage of existing home closings involving foreclosures rose to 1.1% in July from no part a year earlier while REO closings as a percentage of existing home closings dropped to 3.4% from 4.8% a year earlier.
Please refer to the ABOUT THIS MSA tab to learn more about geographic coverage and data availability in the Charleston, WV area.