New Home Sales Drop in Rome According to Freshest Data
Posted on: Jan 01, 2014 07:33:40 AM
Closings of new homes fell year-over-year in September in the Rome, GA market, dropping after staying level in August. New home closings moved from 2 a year earlier to none after the figure moved from none in August 2012 to none in August 2013. Closings stood at 0 in September after being 2 a year earlier and remaining unchanged at 0 in August from a year earlier.
New home closings represented none out of the 152 total closings, which is a smaller percentage than the 2 of 138 total closings a year earlier. Following a decline in August year-over-year, closings of new and existing homes jumped year-over-year in September.
Other Market Trends
Foreclosures and real estate owned (REO) closings fell in September from a year earlier, but stayed a drag on the market. Together, foreclosures plus REO closings accounted for 45.4% of existing home closings, down from 57.4% a year earlier. The percentage of existing home closings involving foreclosures declined to 28.3% in September from 33.1% a year earlier while REO closings as a percentage of existing home closings slid to 17.1% from 24.3% a year earlier.
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