In the Goldsboro, NC market in December, new home closings jumped year-over-year,. Closings stood at 15 in December after being 10 a year earlier and remaining unchanged at 10 in November from a year earlier.
A total of 142 new homes were sold during the 12 months that ended in December, up from 137 for the year that ended in November.
New home closings were 15 out of 109 total closings, making up 13.8%. This is up on a percentage basis from 10 of 119 a year earlier. Following a year-over-year rise in November, closings of new and existing homes fell year-over-year in December.
Pricing and Mortgage Trends
The average price of new homes was $202,367, an increase from $190,310 a year earlier. This was on the heels of a 16.0% gain in November year-over-year.
From the year-ago figure of $175,524, the average mortgage size on new homes moved up to $211,289. Average mortgage size on new homes went from $167,805 in November 2014 to $184,596 in November 2015.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in December 2015.
Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in December, but did not look to be a burden on the market. Out of all existing home closings, foreclosures combined with REO closings accounted for 23.4% of closings, below 28.4% a year earlier. The percentage of existing home closings involving foreclosures rose to 17.0% in December from 14.7% a year earlier while REO closings as a percentage of existing home closings declined to 6.4% from 13.8% a year earlier.