New Home Sales and Prices Fall in South Bend According to Latest Data
Posted on: May 06, 2013 07:34:37 AM
New home closings slid year-over-year in February in the South Bend, IN market, and the decline was by a larger percentage than the January 2013. New home closings moved from seven a year earlier to three after the figure moved from four in January 2012 to two in January 2013.
A total of 53 new homes were sold during the 12 months that ended in February, down from 57 for the year that ended in January.
New home closings were three of the 348 total closings, down on a percentage basis from seven of 372 a year earlier. Closings of new and existing homes dipped year-over-year in February after also falling in January year-over-year.
Pricing and Mortgage Trends
The average per-unit price of new homes was $148,203 in February 2013, moving south from $236,067 a year earlier. This came after a 33.1% surge in January year-over-year.
Average mortgage size on newly sold homes saw a decline year-over-year from $199,210 to $152,128. Average mortgage size on new homes went from $140,009 in January 2012 to $188,138 in January 2013.