Rocky Mount, NC - Local Housing Data - Summary

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Rocky Mount, NC

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Rocky Mount, NC Local News

New Home Sales Decline in Rocky Mount According to Latest Data

Posted on: Apr 06, 2014 07:36:25 AM

In the Rocky Mount, NC market, new home closings slid year-over-year in January, sliding after a growth in December 2013. New home closings moved from 8 a year earlier to none after the figure moved from 4 in December 2012 to 8 in December 2013.

New home closings were 5.5% of total closings a year earlier, and this percentage saw a decline as new home closings this year made up none of the 100 total closings. After rising year-over-year in December, closings of new and existing homes declined year-over-year in January.

Other Market Trends

Foreclosures and real estate owned (REO) closings fell in January from a year earlier, but stayed a drag on the market. Out of all existing home closings, foreclosures combined with REO closings made up 41.0% of closings, below 56.5% a year earlier. The percentage of existing home closings involving foreclosures sank to 26.0% in January from 33.3% a year earlier while REO closings as a percentage of existing home closings dropped to 15.0% from 23.2% a year earlier.

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