Sales of new homes in the Pocatello, ID market jumped year-over-year in November, moving up after staying consistent in October from the year earlier. Sales stood at five in November after being four a year earlier and the figure was unchanged at two in October from a year earlier.

A total of 47 new homes were sold during the 12 months that ended in November, up from 46 for the year that ended in October.

New home sales were five of the 88 total sales, up on a percentage basis from four of 91 a year earlier. Following a year-over-year decline in October, sales of new and existing homes also slipped year-over-year in November.

The average value of newly sold homes in November 2011 was $148,337, down from last year's $247,578. This followed a set of periods with no new home sales in both October 2011 or October 2010

The average mortgage size went down to $118,961 from $230,000 a year earlier.

There was no change in the composition of the new-home market with regard to the types of properties sold in November 2011. Single-family homes continued to account for all of new home sales.

Foreclosures and real estate owned (REO) sales stayed a drag on the market. Combined, foreclosures plus REO sales accounted for 34.9% of existing home sales. In November 2010, they represented 31.0%. The percentage of existing home sales involving foreclosures rose to 22.9% in November from 9.2% a year earlier while REO sales as a percentage of existing home sales fell to 12.0% from 21.8% a year earlier.

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