New Home Sales Remain Level in South Bend, Prices Drop According to Freshest Data
Posted on: Aug 08, 2014 11:50:17 AM
New home closings in the South Bend, IN market stayed the same year-over-year in May, staying flat after dropping year-over-year in April from the year earlier. Closings remained level at 2 from a year earlier after the figure moved from 1 in April 2013 to none in April 2014.
2 of the 545 total closings were new home closings, consistent with the year-earlier figures in terms of percentage. Following a year-over-year decline in April, closings of new and existing homes also sank year-over-year in May.
Pricing and Mortgage Trends
The average value of newly sold homes in May 2014 was $187,625, down from last year's $323,125. This came after a.
Average mortgage size on newly sold homes saw a decline year-over-year from $258,500 to $150,100.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in May 2014.