The Anderson, IN market saw a drop in new home closings year-over-year in November, but the decline was less than the year-over-year decline in October. New home closings moved from 2 a year earlier to 1 after the figure moved from 6 in October 2014 to none in October 2015.
New home closings were 1 out of the 205 total closings, a move on a percentage basis from 2 of 264 a year earlier. Following a year-over-year decline in October, closings of new and existing homes also dropped year-over-year in November.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $127,062 from $119,738 a year ago. This was on the heels of a.
There was no change in the average mortgage size on newly sold homes from a year earlier, as it stayed level at $101,650.
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 fell from 1,647 square feet a year earlier to 1,521 square feet.
Foreclosures and real estate owned (REO) closings continued to rise in November from a year earlier and stayed a drag on the market. Together, foreclosures plus REO closings accounted for 29.4% of existing home closings, up from 26.0% a year earlier. The percentage of existing home closings involving foreclosures went from 12.2% in November 2014 to 12.7% in November 2015 and REO closings as a percentage of existing home closings gained to 16.7% from 13.7%.