The Longview, WA market saw no change in new home closings year-over-year in September, staying flat after dropping year-over-year in August from the year earlier. Closings remained level at 1 from a year earlier after the figure moved from 2 in August 2014 to none in August 2015.
Out of the 177 total closings, 1 were new home closings. This is consistent on a percentage basis with a year earlier. Closings of new and existing homes climbed year-over-year in September after also rising in August year-over-year.
Pricing and Mortgage Trends
The average new home price was $143,000, down from $318,667 a year earlier. This came after a.
Average mortgage size on new homes fell from $329,585 to $143,000.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in September 2015.
The average unit size of newly sold homes fell from 2,032 square feet a year earlier to 604 square feet.
Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in September, but did not appear to be dragging the market. Foreclosures and REO closings, taken together, made up 18.8% of existing closings, lower than 30.5% a year earlier. The percentage of existing home closings involving foreclosures sank to 8.5% in September from 15.2% a year earlier while REO closings as a percentage of existing home closings slid to 10.2% from 15.2% a year earlier.