Freshest Numbers Indicate New Home Closings and Prices Drop in Terre Haute
Posted on: Nov 12, 2013 07:47:51 AM
In the Terre Haute, IN market, new home closings slid year-over-year in July, and the decline was similar to June 2013. New home closings moved from 2 a year earlier to 1 after the figure moved from 2 in June 2012 to 1 in June 2013.
New home closings were 1 out of the 164 total closings, a move on a percentage basis from 2 of 213 a year earlier. For new and existing homes, closings dropped in July after also declining in June year-over-year.
Pricing and Mortgage Trends
The average value of newly sold homes in July 2013 was $107,300, down from last year's $247,500. This came after a 63.4% lift in June year-over-year.
Average mortgage size on new homes fell from $198,000 to $85,840. Average mortgage size on new homes went from $225,600 in June 2012 to $327,750 in June 2013.
Other Market Trends
There was no change in the composition of the new-home market with regard to the types of properties sold in July 2013.