Newest Figures Indicate New Home Closings in Dalton Decline
Posted on: Nov 12, 2013 07:11:24 AM
The Dalton, GA market saw a drop in new home closings year-over-year in August, declining after staying relatively stable in July from the year earlier. Closings stood at 0 in August after being 1 a year earlier and remaining unchanged at 1 in July from a year earlier.
New home closings were none out of the 167 total closings, a move on a percentage basis from 1 of 187 a year earlier. After rising year-over-year in July, closings of new and existing homes dropped year-over-year in August.
Other Market Trends
Foreclosures and real estate owned (REO) closings fell in August from a year earlier, but stayed a drag on the market. Together, foreclosures plus REO closings made up 53.9% of existing home closings, down from 72.6% a year earlier. The percentage of existing home closings involving foreclosures slid to 25.1% in August from 31.7% a year earlier while REO closings as a percentage of existing home closings declined to 28.7% from 40.9% a year earlier.
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