New home closings in the Terre Haute, IN market remained steady year-over-year in July, staying relatively stable after having decreased year-over-year in June. Closings remained level at 1 from a year earlier after the figure moved from 2 in June 2014 to none in June 2015.
New home closings were 1 out of the 313 total closings, same on a percentage basis as a year earlier. Closings of new and existing homes rose year-over-year in July following a fall in June year-over-year.
Pricing and Mortgage Trends
The average new home price was $259,000, up from $253,125 a year earlier. This followed a.
The average mortgage size on new homes was $207,200, up from $202,500.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in July 2015.
Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in July, but did not appear to be dragging the market. Out of all existing home closings, foreclosures combined with REO closings represented 9.6% of closings, below 18.6% a year earlier. The percentage of existing home closings involving foreclosures slid to 2.9% in July from 10.7% a year earlier while REO closings as a percentage of existing home closings fell to 6.7% from 7.9% a year earlier.