Closings of new homes in the Goldsboro, NC market increased year-over-year in October, and the increase was greater than September 2015. New home closings moved from 8 a year earlier to 11 after the figure moved from 12 in September 2014 to 14 in September 2015.
A total of 137 new homes were sold during the 12 months that ended in October, up from 134 for the year that ended in September.
11 of the 132 total closings were new home closings, a shift on a percentage basis from 8 out of 91 a year earlier. Closings of new and existing homes climbed year-over-year in October after also rising in September year-over-year.
Pricing and Mortgage Trends
The average new home price was $175,227, down from $192,825 a year earlier. This followed a 9.9% fall in September from a year earlier.
Average mortgage size on new homes fell from $195,467 to $156,711. Average mortgage size on new homes went from $185,270 in September 2014 to $179,729 in September 2015.
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 fell in October from a year earlier, but stayed a drag on the market. Out of all existing home closings, foreclosures combined with REO closings accounted for 27.3% of closings, below 38.6% a year earlier. The percentage of existing home closings involving foreclosures fell to 16.5% in October from 26.5% a year earlier while REO closings as a percentage of existing home closings sank to 10.7% from 12.0% a year earlier.