Freshest Figures Show New Home Sales Level in Lynchburg From Last Year
Posted on: Mar 06, 2014 07:25:29 AM
Closings of new homes in the Lynchburg, VA market remained unchanged year-over-year in November, staying flat after dropping year-over-year in October from the year earlier. New home closings moved from none a year earlier to none after the figure moved from 1 in October 2012 to none in October 2013. Closings remained level at none from a year earlier after the figure moved from 1 in October 2012 to none in October 2013.
For new and existing homes, closings declined in November after also declining in October year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to fall from a year earlier in November, but did not appear to be dragging the market. Combined, foreclosures plus REO closings represented 11.8% of existing home closings, below 19.3% a year earlier. The percentage of existing home closings involving foreclosures rose to 11.8% in November from 9.6% a year earlier while REO closings as a percentage of existing home closings slid to no part from 9.6% a year earlier.
Please refer to the ABOUT THIS MSA tab to learn more about geographic coverage and data availability in the Lynchburg, VA area.