In the Sheboygan, WI market, closings of new homes fell year-over-year in April, but the decline was less than the year-over-year decline in March. New home closings moved from 2 a year earlier to 1 after the figure moved from 1 in March 2015 to none in March 2016.
1 of the 173 total closings were new home closings, a shift on a percentage basis from 2 out of 169 a year earlier. Closings of new and existing homes rose year-over-year in April following a fall in March year-over-year.
Pricing and Mortgage Trends
The average new home price was $634,900, up from $269,700 a year earlier. This followed a.
The average mortgage size on new homes was $417,000, up from $236,948.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in April 2016.
Foreclosures and real estate owned (REO) closings rose in April from a year earlier and did not appear to be dragging the market. Foreclosures and REO closings, taken together, made up 22.1% of existing home closings, higher than 19.2% a year earlier. The percentage of existing home closings involving foreclosures rose to 8.7% in April from 6.0% a year earlier and REO closings moved from 13.2% of existing home closings in April 2015 to 13.4% in April 2016.