The Goldsboro, NC market saw an increase in closings of new homes in June year-over-year, rebounding from a year-over-year decline in May 2015. New home closings moved from 4 a year earlier to 8 after the figure moved from 16 in May 2014 to 5 in May 2015.
A total of 86 new homes were sold during the 12 months that ended in June, up from 82 for the year that ended in May.
New home closings were 8 of the 143 total closings, up on a percentage basis from 4 of 132 a year earlier. Closings of new and existing homes rose year-over-year in June following a drop in May year-over-year.
Pricing and Mortgage Trends
The average new home value went from $181,375 last year to $247,313. This followed a 17.2% rise in May year-over-year.
Average mortgage size on new homes rose from $180,881 to $234,445. Average mortgage size on new homes went from $144,648 in May 2014 to $158,615 in May 2015.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in June 2015.
Foreclosures and real estate owned (REO) closings continued to rise in June from a year earlier and remained a burden on the market. Combined, foreclosures plus REO closings accounted for 25.2% of existing home closings, above 18.8% a year earlier. The percentage of existing home closings involving foreclosures rose to 16.3% in June from 9.4% a year earlier and REO closings moved from 9.4% of existing home closings in June 2014 to 8.9% in June 2015.