New home closings dropped year-over-year in August in the Goldsboro, NC market, sliding after a growth 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 drop 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 climbed 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 followed a 6.6% surge in July year-over-year.

The average mortgage size moved to $187,688, down from last year's $199,139. 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 drop from a year earlier in August, but did not look to be a burden on the market. Foreclosures and REO closings, taken together, made up 24.6% of existing closings, lower than 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 slid to 11.9% from 14.4% a year earlier.

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