In November, there was an increase in sales of new homes in the St. Joseph, MO market year-over-year, increasing after staying level in October. Sales stood at five in November after being zero a year earlier and remaining unchanged at three in October from a year earlier.

A total of 46 new homes were sold during the 12 months that ended in November, up from 41 for the year that ended in October.

After dropping in October from a year earlier, sales of new and existing homes gained year-over-year in November.

Foreclosures and real estate owned (REO) sales decreased in November from a year earlier, but remained a burden on the market. Combined, foreclosures plus REO sales made up 33.8% of existing home sales, below 47.7% a year earlier. The percentage of existing home sales involving foreclosures fell to 17.6% in November from 22.4% a year earlier while REO sales as a percentage of existing home sales slipped to 16.2% from 25.2% a year earlier.

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