Saginaw, MI - Local Housing Data - Summary

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Saginaw, Saginaw Township North, MI

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Saginaw, MI Local News

  • Saginaw, MI - April 2014 - New home Closings Swing Down

    New home sales fell year-over-year in Saginaw, MI in April. The percentage of new home closings belonging to attached homes rose, climbing 2.5% percentage points. Mortgage amounts on new homes moved up, rising 20.4%. Foreclosures as a percentage of existing home closings dropped, falling 2.9%...

  • Saginaw, MI - March 2014 - New Home Closings Stay Steady

    New home sales remained level from a year ago in Saginaw, MI in March. Foreclosures as a percentage of existing home closings rose, climbing 11.7% percentage points. Mortgage amounts on new homes dropped 14.9%. Average prices of new homes moved up, rising 25.2%.

  • Saginaw, MI - February 2014 - New Home Closings Numbers Suggest Market Rise Strengthening.

    New home sales rose in Saginaw, MI in February. Real Estate Owned (REO) closings as a percentage of existing home closings dropped, falling 0.8% percentage points. Foreclosures as a percentage of existing home closings rose, climbing 1.0% percentage points.

New Home Prices Climb in Saginaw According to Newest Figures, Sales Decline

Posted on: Aug 08, 2014 11:46:27 AM

The Saginaw, MI market saw a drop in new home closings year-over-year in May, and the decline was similar to April 2014. New home closings moved from 2 a year earlier to 1 after the figure moved from 8 in April 2013 to 4 in April 2014.

1 of the 276 total closings were new home closings, a shift on a percentage basis from 2 out of 289 a year earlier. Following a year-over-year decline in April, closings of new and existing homes also declined year-over-year in May.

The average price of new homes rose to $159,900 from last year's $41,300. This came after a 10.7% fall in April from a year earlier.

Other Market Trends

The share of new home closings made up by attached units has risen while the share belonging to single-family homes has fallen.

Foreclosures and real estate owned (REO) closings decreased in May from a year earlier, but remained a burden on the market. Together, foreclosures plus REO closings made up 48.7% of existing home closings, down from 53.7% a year earlier. The percentage of existing home closings involving foreclosures rose to 27.3% in May from 22.0% a year earlier while REO closings as a percentage of existing home closings dropped to 21.5% from 31.7% a year earlier.

 
 
 

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