In January, closings of new homes in the Goldsboro, NC market climbed year-over-year, but the increase was less than December 2015. New home closings moved from 7 a year earlier to 9 after the figure moved from 10 in December 2014 to 15 in December 2015.

A total of 144 new homes were sold during the 12 months that ended in January, up from 142 for the year that ended in December.

9 of the 119 total closings were new home closings, a shift on a percentage basis from 7 out of 83 a year earlier. Closings of new and existing homes grew year-over-year in January following a decline in December year-over-year.

Pricing and Mortgage Trends

The average per-unit price of new homes was $188,056, compared with $218,071 last year. This followed a 6.3% boost in December year-over-year.

Average mortgage size on newly sold homes saw a decline year-over-year from $202,581 to $164,575. Average mortgage size on new homes went from $175,524 in December 2014 to $211,289 in December 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.

Foreclosures and real estate owned (REO) closings decreased in January from a year earlier, but remained a burden on the market. Together, foreclosures plus REO closings accounted for 28.2% of existing home closings, down from 30.3% a year earlier. The percentage of existing home closings involving foreclosures dropped to 12.7% in January from 18.4% a year earlier while REO closings as a percentage of existing home closings jumped to 15.5% from 11.8%.

Please refer to the ABOUT THIS MSA tab to learn more about geographic coverage and data availability in the Goldsboro, NC area.