New Home Prices Gain in Flint According to Freshest Figures, Sales Fall
Posted on: Dec 06, 2013 07:16:25 AM
New home closings in the Flint, MI market sank year-over-year in August, dropping after a year-over-year increase in July 2013. New home closings moved from 7 a year earlier to 6 after the figure moved from 6 in July 2012 to 7 in July 2013.
A total of 69 new homes were sold during the 12 months that ended in August, down from 70 for the year that ended in July.
New home closings were 6 out of the 771 total closings, same on a percentage basis as a year earlier. After rising year-over-year in July, closings of new and existing homes fell year-over-year in August.
Pricing and Mortgage Trends
The average new home price was $125,918, up from $122,794 a year earlier. This was on the heels of a 56.2% lift in July year-over-year.
The average mortgage size on new homes was $98,251, up from $84,881.