Freshest Numbers Show Prices of New Homes Climb in Greensboro, Sales Fall
Posted on: May 06, 2013 07:14:34 AM
Closings of new homes sank year-over-year in February in the Greensboro, NC market, and the percentage fall was steeper than January 2013. New home closings saw a 17.5% decline from a year earlier to 47 after closings declined 10.9% in January from the year earlier.
A total of 716 new homes were sold during the 12 months that ended in February, down from 726 for the year that ended in January.
New home closings accounted for 6.3% of overall housing closings, less than the 8.7% of closings a year earlier. Following a year-over-year increase in January, closings of new and existing homes also grew year-over-year in February.
Pricing and Mortgage Trends
In February, the average value of new homes saw a 1.0% rise year-over-year as it grew to $199,511 per unit. This rise is smaller than the 5.4% rise in January year-over-year.
For newly sold homes, the average mortgage size rose year-over-year along with new home prices. In February 2013, the average mortgage size on newly sold homes saw a 1.0% rise from a year earlier. Average mortgage size increased 5.1% in January 2013 from a year earlier. The overall percentage of sale price being financed was unchanged from a year earlier. It moved from 90.4% in January 2012 to 92.0% in January 2013.