Latest Numbers Show New Home Sales Drop in Harrisonburg
Posted on: Jun 06, 2014 07:19:50 AM
Closings of new homes in the Harrisonburg, VA market fell year-over-year in February, falling after a rise in January 2014. New home closings moved from 1 a year earlier to none after the figure moved from 2 in January 2013 to 6 in January 2014.
New home closings were none out of the 45 total closings, a move on a percentage basis from 1 of 104 a year earlier. Following a year-over-year increase in January, closings of new and existing homes declined year-over-year in February.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in February, but did not appear to be dragging the market. Together, foreclosures plus REO closings made up 20.0% of existing home closings, down from 35.0% a year earlier. The percentage of existing home closings involving foreclosures dropped to no part in February from 23.3% a year earlier while REO closings as a percentage of existing home closings jumped to 20.0% from 11.7%.
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