In the Goldsboro, NC market in June, new home closings sank year-over-year, but the decline was less than the year-over-year decline in May. New home closings moved from 10 a year earlier to 9 after the figure moved from 10 in May 2015 to 8 in May 2016.
A total of 116 new homes were sold during the 12 months that ended in June, down from 117 for the year that ended in May.
New home closings were 9 out of the 124 total closings, a move on a percentage basis from 10 of 145 a year earlier. Following a year-over-year rise in May, closings of new and existing homes fell year-over-year in June.
Pricing and Mortgage Trends
The average new home price was $189,500, down from $237,100 a year earlier. This came after a 4.7% fall in May from a year earlier.
The average mortgage size moved to $157,941, down from last year's $224,647. Average mortgage size on new homes went from $191,967 in May 2015 to $175,802 in May 2016.
Other Market Trends
As a share of new home closings, single-family home closings have risen from last year while the share belonging to attached units has fallen.
Foreclosures and real estate owned (REO) closings continued to decline from a year earlier in June, but did not look to be a burden on the market. Foreclosures and REO closings, taken together, made up 21.7% of existing closings, lower than 25.2% a year earlier. The percentage of existing home closings involving foreclosures dropped to 12.2% in June from 16.3% a year earlier and REO closings moved from 8.9% of existing home closings in June 2015 to 9.6% in June 2016.