Freshest Figures Indicate New Home Closings in Wichita Falls Drop
Posted on: Aug 08, 2014 11:56:35 AM
In May, there was a fall year-over-year in new home closings in the Wichita Falls, TX market, falling after remaining level in April from the year earlier. Closings stood at 0 in May after being 2 a year earlier and remaining unchanged at 1 in April from a year earlier.
None of the 32 total closings were new home closings, a shift on a percentage basis from 2 out of 289 a year earlier. Following a year-over-year decline in April, closings of new and existing homes also sank year-over-year in May.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to fall from a year earlier in May, but did not look to be a burden on the market. Together, foreclosures plus REO closings made up 9.4% of existing home closings, down from 26.5% a year earlier. The percentage of existing home closings involving foreclosures fell to 6.2% in May from 12.9% a year earlier while REO closings as a percentage of existing home closings dropped to 3.1% from 13.6% a year earlier.
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