Freshest Figures Show New Home Sales Gain in Rockford, Prices Decrease
Posted on: Aug 08, 2014 11:45:43 AM
There was a rise in closings of new homes in the Rockford, IL market in March year-over-year, rebounding from a year-over-year decline in February 2014. New home closings moved from 3 a year earlier to 7 after the figure moved from 1 in February 2013 to none in February 2014.
New home closings were 7 out of 394 total closings, making up 1.8%. This is up on a percentage basis from 3 of 502 a year earlier. For new and existing homes, closings slid in March after also declining in February year-over-year.
Pricing and Mortgage Trends
The average value of newly sold homes in March 2014 was $165,727, down from last year's $196,707. This followed a.
The average mortgage size moved to $142,090, down from last year's $187,990.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in March 2014.