In the Appleton, WI market in December, closings of new homes increased year-over-year, and the increase was greater than November 2015. New home closings moved from 8 a year earlier to 9 after the figure moved from 12 in November 2014 to 13 in November 2015.
A total of 179 new homes were sold during the 12 months that ended in December, up from 178 for the year that ended in November.
9 of the 276 total closings were new home closings, a shift on a percentage basis from 8 out of 276 a year earlier. After falling in November from a year earlier, closings of new and existing homes stayed steady in December.
Pricing and Mortgage Trends
The average per-unit price of new homes was $210,300, compared with $262,713 last year. This followed a 22.4% surge in November year-over-year.
The average mortgage size moved to $174,519, down from last year's $218,877. Average mortgage size on new homes went from $201,960 in November 2014 to $237,442 in November 2015.
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 fall from a year earlier in December, but did not look to be a burden on the market. Out of all existing home closings, foreclosures combined with REO closings made up 13.1% of closings, below 19.8% a year earlier. The percentage of existing home closings involving foreclosures rose to 7.9% in December from 6.7% a year earlier while REO closings as a percentage of existing home closings fell to 5.2% from 13.1% a year earlier.