New Home Closings Steady in Rome According to Newest Figures
Posted on: Apr 06, 2014 07:36:33 AM
Closings of new homes in the Rome, GA market saw no change year-over-year in January, staying level after a year-over-year increase in December from a year earlier. Closings remained level at none from a year earlier after the figure moved from none in December 2012 to 1 in December 2013. New home closings moved from none a year earlier to none after the figure moved from none in December 2012 to 1 in December 2013.
Following a year-over-year rise in December, closings of new and existing homes dropped year-over-year in January.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to rise in January from a year earlier and remained a drag on the market. Combined, foreclosures plus REO closings made up 63.9% of existing home closings, above 51.0% a year earlier. The percentage of existing home closings involving foreclosures rose to 31.3% in January from 17.7% a year earlier and REO closings moved from 33.3% of existing home closings in January 2013 to 32.5% in January 2014.
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