Closings of new homes in the Carson City, NV market saw no change year-over-year in November, staying flat after dropping year-over-year in October from the year earlier. Closings remained level at 1 from a year earlier after the figure moved from 4 in October 2014 to none in October 2015.
1 of the 54 total closings were new home closings, consistent with the year-earlier figures in terms of percentage. For new and existing homes, closings declined in November after also declining in October year-over-year.
Pricing and Mortgage Trends
The average price of new homes rose to $485,989 from last year's $389,200. This followed a.
The average mortgage size on new homes was $300,000, up from $181,200.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in November 2015.
The average unit size of newly sold homes fell from 2,388 square feet a year earlier to 2,339 square feet.
Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in November, but did not look to be a burden on the market. Combined, foreclosures plus REO closings made up 17.0% of existing home closings, below 30.4% a year earlier. The percentage of existing home closings involving foreclosures dropped to 9.4% in November from 16.1% a year earlier while REO closings as a percentage of existing home closings sank to 7.5% from 14.3% a year earlier.