In the Goldsboro, NC market in August, new home closings sank year-over-year, falling after a rise in July 2015. New home closings moved from 11 a year earlier to 10 after the figure moved from 8 in July 2014 to 9 in July 2015.
A total of 132 new homes were sold during the 12 months that ended in August, down from 133 for the year that ended in July.
New home closings were 10.2% of total closings a year earlier, and this percentage saw a decline as new home closings this year made up 10 of the 136 total closings. After dropping in July from a year earlier, closings of new and existing homes increased year-over-year in August.
Pricing and Mortgage Trends
The average new home price was $182,650, down from $203,573 a year earlier. This was on the heels of a 6.6% lift in July year-over-year.
Average mortgage size on newly sold homes saw a decline year-over-year from $199,139 to $187,688. In July 2015, average mortgage size remained level from a year earlier at $205,386.
Other Market Trends
The share of new home closings made up by attached units has risen while the share belonging to single-family homes has fallen.
Foreclosures and real estate owned (REO) closings continued to fall from a year earlier in August, but did not look to be a burden on the market. Out of all existing home closings, foreclosures combined with REO closings made up 24.6% of closings, below 28.9% a year earlier. The percentage of existing home closings involving foreclosures declined to 12.7% in August from 14.4% a year earlier while REO closings as a percentage of existing home closings dropped to 11.9% from 14.4% a year earlier.