New Home Closings in Charleston Remain at Zero
Posted on: Apr 06, 2013 07:06:03 AM
New home closings in the Charleston, WV market were unchanged year-over-year in November, staying level after a year-over-year decline in October from the year earlier. Closings remained level at none from a year earlier after the figure moved from one in October 2011 to none in October 2012.
A total of five new homes were sold during the 12 months that ended in November, equal to the number of new homes sold for the year that ended in October.
Following a year-over-year increase in October, closings of new and existing homes also increased year-over-year in November.
Other Market Trends
Foreclosures and real estate owned (REO) closings did not look to be a burden on the market. Together, foreclosures plus REO closings accounted for 5.1% of existing home closings. They made up 1.7% in November 2011. The percentage of existing home closings involving foreclosures stayed at no part of closings in November from a year earlier while REO closings as a percentage of existing home closings rose to 5.1% from 1.7%.
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