New Home Closings Decline in Dalton According to Freshest Figures
Posted on: Jul 06, 2014 07:09:03 AM
In the Dalton, GA market, closings of new homes declined year-over-year in April, falling after remaining level in March from the year earlier. New home closings moved from 1 a year earlier to none after the figure moved from none in March 2013 to none in March 2014. Closings stood at 0 in April after being 1 a year earlier and remaining unchanged at 0 in March from a year earlier.
New home closings were none out of the 116 total closings, a move on a percentage basis from 1 of 141 a year earlier. Following a year-over-year decline in March, closings of new and existing homes also fell year-over-year in April.
Other Market Trends
Foreclosures and real estate owned (REO) closings decreased in April from a year earlier, but remained a drag on the market. Together, foreclosures plus REO closings accounted for 47.4% of existing home closings, down from 61.4% a year earlier. The percentage of existing home closings involving foreclosures fell to 19.8% in April from 27.1% a year earlier while REO closings as a percentage of existing home closings slid to 27.6% from 34.3% a year earlier.
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