Latest Numbers For Greensboro Show New Home Closings and Prices Rise
Posted on: Aug 08, 2014 11:24:39 AM
In May, there was an increase in closings of new homes in the Greensboro, NC market year-over-year, and the percentage hike, which was better than April 2014, suggested the market may be improving. There was a 18.0% boost in new home closings from a year earlier. This came on the heels of a 11.8% jump year-over-year in April.
A total of 816 new homes were sold during the 12 months that ended in May, up from 805 for the year that ended in April.
New home closings made up 7.5% of overall housing closings. This marks a rise from 5.6% of total closings a year earlier. Following a year-over-year decline in April, closings of new and existing homes also fell year-over-year in May.
Pricing and Mortgage Trends
In May, there was a 3.6% gain year-over-year in the average price of newly sold homes, reaching $257,661 per unit. This bump is smaller than the 7.9% lift in April year-over-year.
Average mortgage size on new homes went from $221,723 in May 2013 to $219,651 in May 2014. Average mortgage size slid 3.9% in April 2014 from a year earlier.