Latest Figures Indicate New Home Closings in Rome Decrease
Posted on: Dec 06, 2013 07:40:23 AM
In the Rome, GA market in September, closings of new homes dropped year-over-year, declining after staying relatively stable in August from the year earlier. 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 moved from 2 a year earlier to none after the figure moved from none in August 2012 to none in August 2013.
New home closings were 1.4% of total closings a year earlier, and this percentage saw a decline as new home closings this year made up none of the 152 total closings. Following a fall in August year-over-year, closings of new and existing homes increased year-over-year in September.
Other Market Trends
Foreclosures and real estate owned (REO) closings fell in September from a year earlier, but remained a burden on the market. Out of all existing home closings, foreclosures combined with REO closings represented 45.4% of closings, below 57.4% a year earlier. The percentage of existing home closings involving foreclosures slid to 28.3% in September from 33.1% a year earlier while REO closings as a percentage of existing home closings sank to 17.1% from 24.3% a year earlier.
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