In the Goldsboro, NC market in July, new home closings gained year-over-year, but the increase was less than June 2015. New home closings moved from 8 a year earlier to 9 after the figure moved from 8 in June 2014 to 10 in June 2015.
A total of 133 new homes were sold during the 12 months that ended in July, up from 132 for the year that ended in June.
New home closings were 9 out of 127 total closings, making up 7.1%. This is up on a percentage basis from 8 of 134 a year earlier. After rising year-over-year in June, closings of new and existing homes slid year-over-year in July.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $211,833 from $198,638 a year ago. This was on the heels of a 32.5% surge in June year-over-year.
Average mortgage size on new homes stayed at $205,241 from a year earlier. Average mortgage size on new homes went from $178,236 in June 2014 to $224,647 in June 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.
The average unit size of newly sold homes rose from 2,107 square feet a year earlier to 2,411 square feet.
Foreclosures and real estate owned (REO) closings continued to increase in July from a year earlier and remained a burden on the market. Foreclosures and REO closings, taken together, made up 31.4% of existing home closings, higher than 25.4% a year earlier. The percentage of existing home closings involving foreclosures rose to 16.9% in July from 13.5% a year earlier while REO closings as a percentage of existing home closings grew to 14.4% from 11.9%.