Freshest Numbers For Greensboro Show New Home Closings and Prices Increase
Posted on: Jul 06, 2014 07:14:34 AM
In April, closings of new homes in the Greensboro, NC market gained year-over-year, and there were signals that the market may be improving as the percentage gain was better than March 2014. New home closings saw a rise of 7.1% from the year earlier to 60. This was after the housing market saw a 4.8% hike year-over-year in March.
A total of 873 new homes were sold during the 12 months that ended in April, up from 869 for the year that ended in March.
As a percentage of overall housing closings, new home closings represented 7.2%. This is a surge from 5.3% of closings a year earlier. Closings of new and existing homes dropped year-over-year in April after also falling in March year-over-year.
Pricing and Mortgage Trends
Average price of newly sold homes saw a 6.3% boost year-over-year in April to $228,822 per unit. This surge is smaller than the 15.5% hike in March year-over-year.
Average mortgage size on new homes declined year-over-year in contrast to new home prices. Average mortgage size slid 2.1% to $184,038 in April from a year earlier. Average mortgage size climbed 11.1% in March 2014 from a year earlier.