New Home Closings Rise in Rome According to Recent Data
Posted on: Feb 13, 2013 07:30:51 AM
New home closings gained year-over-year in November in the Rome, GA market, but the increase was less than October 2012. New home closings moved from none a year earlier to one after the figure moved from one in October 2011 to two in October 2012.
A total of 16 new homes were sold during the 12 months that ended in November, up from 15 for the year that ended in October.
Following a year-over-year increase in October, closings of new and existing homes also climbed year-over-year in November.
Other Market Trends
Foreclosures and real estate owned (REO) closings remained a drag on the market. Out of all existing home closings, foreclosures combined with REO closings accounted for 67.3% of closings. In November 2011, they made up 63.5%. The percentage of existing home closings involving foreclosures rose to 32.1% in November from 29.8% a year earlier while REO closings as a percentage of existing home closings rose to 35.3% from 33.7%.
Please refer to the ABOUT THIS MSA tab to learn more about geographic coverage and data availability in the Rome, GA area.