New Home Prices Climb in Flint According to Freshest Figures, Sales Drop
Posted on: Jul 06, 2014 07:12:18 AM
In March, the Flint, MI market saw a drop year-over-year in new home closings, sliding after a growth in February 2014. New home closings moved from 5 a year earlier to 3 after the figure moved from 3 in February 2013 to 4 in February 2014.
A total of 87 new homes were sold during the 12 months that ended in March, down from 89 for the year that ended in February.
3 of the 632 total closings were new home closings, a shift on a percentage basis from 5 out of 758 a year earlier. Following a year-over-year decline in February, closings of new and existing homes also sank year-over-year in March.
Pricing and Mortgage Trends
The average new home price was $184,813, up from $116,675 a year earlier. This was on the heels of a 22.9% surge in February year-over-year.
From the year-ago figure of $33,403, the average mortgage size on new homes moved up to $153,163. Average mortgage size on new homes went from $73,673 in February 2013 to $123,888 in February 2014.