Sales of new homes in the Terre Haute, IN market declined year-over-year in October, falling after remaining level in September from the year earlier. Sales stood at zero in October after being five a year earlier and the figure was unchanged at two in September from a year earlier.

A total of 33 new homes were sold during the 12 months that ended in October, down from 38 for the year that ended in September.

Out of 127 total sales, none were of new homes, which makes up a smaller percentage than the five out of 168 total sales last year. For new and existing homes, sales slid in October after also declining in September year-over-year.

Foreclosures and real estate owned (REO) sales continued to drop from a year earlier in October, but did not look to be a burden on the market. Together, foreclosures plus REO sales made up 13.4% of existing home sales, down from 25.2% a year earlier. The percentage of existing home sales involving foreclosures fell to 2.4% in October from 12.3% a year earlier while REO sales as a percentage of existing home sales slipped to 11.0% from 12.9% a year earlier.

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