New Home Closings Rise in Sherman According to Freshest Data
Posted on: May 06, 2013 07:34:12 AM
In February, there was an increase in closings of new homes in the Sherman, TX market year-over-year, but the increase was less than January 2013. New home closings moved from none a year earlier to six after the figure moved from two in January 2012 to four in January 2013.
A total of 33 new homes were sold during the 12 months that ended in February, up from 27 for the year that ended in January.
Following a year-over-year increase in January, closings of new and existing homes also jumped year-over-year in February.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to rise in February from a year earlier and remained a burden on the market. Foreclosures and REO closings, taken together, accounted for 66.8% of existing home closings, up from 40.5% a year earlier. The percentage of existing home closings involving foreclosures rose to 54.0% in February from 26.0% a year earlier while REO closings as a percentage of existing home closings declined to 12.8% from 14.4% a year earlier.
Please refer to the ABOUT THIS MSA tab to learn more about geographic coverage and data availability in the Sherman, TX area.