Freshest Numbers Show New Home Closings Gain in Flint, Prices Drop
Posted on: Mar 06, 2014 07:14:21 AM
In November, closings of new homes in the Flint, MI market increased year-over-year, but the increase was less than October 2013. New home closings moved from 10 a year earlier to 12 after the figure moved from 3 in October 2012 to 7 in October 2013.
A total of 75 new homes were sold during the 12 months that ended in November, up from 73 for the year that ended in October.
New home closings were 12 out of the 1,009 total closings, a move on a percentage basis from 10 of 965 a year earlier. After dropping in October from a year earlier, closings of new and existing homes grew year-over-year in November.
Pricing and Mortgage Trends
The average per-unit price of new homes was $86,882, compared with $126,791 last year. This was on the heels of a 5.0% fall in October from a year earlier.
From the year-ago figure of $82,937, the average mortgage size on new homes moved up to $121,129. Average mortgage size on new homes went from $94,275 in October 2012 to $140,050 in October 2013.