Recent Numbers For Flint Show New Home Closings and Prices Gain
Posted on: Aug 08, 2014 11:21:33 AM
The Flint, MI market saw a rise in new home closings in April year-over-year, rebounding from a year-over-year decline in March 2014. New home closings moved from 5 a year earlier to 8 after the figure moved from 4 in March 2013 to 1 in March 2014.
A total of 50 new homes were sold during the 12 months that ended in April, up from 47 for the year that ended in March.
8 of the 634 total closings were new home closings, a shift on a percentage basis from 5 out of 787 a year earlier. Following a year-over-year decline in March, closings of new and existing homes also dropped year-over-year in April.
Pricing and Mortgage Trends
The average new home price was $167,749, up from $118,785 a year earlier. This followed a 68.1% boost in March year-over-year.
The average mortgage size on new homes was $118,938, up from $42,500. Average mortgage size on new homes went from $26,806 in March 2013 to $96,140 in March 2014.