Rockford, IL - Local Housing Data - Summary

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Rockford, IL Local News

New Home Sales Rise in Rockford, Prices Decrease According to Freshest Data

Posted on: Jul 06, 2014 07:31:13 AM

The Rockford, IL market saw an increase in closings of new homes 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 of the 394 total closings, up on a percentage basis from 3 of 502 a year earlier. Closings of new and existing homes slid year-over-year in March after also falling in February year-over-year.

Pricing and Mortgage Trends

The average per-unit price of new homes was $165,727, compared with $196,707 last year. This followed a.

The average mortgage size went down to $142,090 from $187,990 a year earlier.

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.


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