New Home Closings Steady in Charleston According to Recent Figures
Posted on: Aug 08, 2014 11:13:21 AM
Closings of new homes in the Charleston, WV market remained unchanged year-over-year in March, staying flat after dropping year-over-year in February from the year earlier. Closings remained level at none from a year earlier after the figure moved from 1 in February 2013 to none in February 2014. New home closings moved from none a year earlier to none after the figure moved from 1 in February 2013 to none in February 2014.
Following a year-over-year decline in February, closings of new and existing homes also slid year-over-year in March.
Other Market Trends
Foreclosures and real estate owned (REO) closings rose in March from a year earlier and did not look to be a burden on the market. Together, foreclosures plus REO closings represented 11.1% of existing home closings, up from 2.6% a year earlier. The percentage of existing home closings involving foreclosures rose to 5.6% in March from no part a year earlier while REO closings as a percentage of existing home closings rose to 5.6% from 2.6%.
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