New home closings in the Muncie, IN market stayed the same year-over-year in September, staying level after a year-over-year decline in August from the year earlier. Closings remained level at 1 from a year earlier after the figure moved from 4 in August 2014 to 1 in August 2015.
1 of the 271 total closings were new home closings, consistent with the year-earlier figures in terms of percentage. Following a year-over-year increase in August, closings of new and existing homes also grew year-over-year in September.
Pricing and Mortgage Trends
The average per-unit price of new homes was $89,252, compared with $138,838 last year. This was on the heels of a.
Average mortgage size on newly sold homes saw a decline year-over-year from $137,464 to $88,369.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in September 2015.
Foreclosures and real estate owned (REO) closings declined in September from a year earlier, but remained a burden on the market. Out of all existing home closings, foreclosures combined with REO closings represented 25.9% of closings, below 26.9% a year earlier. The percentage of existing home closings involving foreclosures rose to 18.5% in September from 13.9% a year earlier while REO closings as a percentage of existing home closings sank to 7.4% from 13.0% a year earlier.