New Home Closings Decline in Rome According to Newest Figures
Posted on: Aug 08, 2014 11:46:03 AM
In the Rome, GA market in April, closings of new homes declined year-over-year, dropping after staying level in March. Closings stood at 0 in April after being 1 a year earlier and remaining unchanged at 1 in March from a year earlier.
New home closings were none out of the 116 total closings, a move on a percentage basis from 1 of 124 a year earlier. Closings of new and existing homes dropped year-over-year in April after also falling in March year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings declined in April from a year earlier, but remained a burden on the market. Foreclosures and REO closings, taken together, accounted for 47.4% of existing closings, lower than 60.2% a year earlier. The percentage of existing home closings involving foreclosures dropped to 20.7% in April from 32.5% a year earlier and REO closings moved from 27.6% of existing home closings in April 2013 to 26.7% in April 2014.
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