Recent Figures Show New Home Sales Climb in Greenville
Posted on: May 06, 2013 07:14:50 AM
There was a rise in closings of new homes in the Greenville, NC market in February year-over-year, but the increase was less than January 2013. New home closings moved from 11 a year earlier to 13 after the figure moved from 13 in January 2012 to 18 in January 2013.
A total of 232 new homes were sold during the 12 months that ended in February, up from 230 for the year that ended in January.
New home closings were 13 out of 152 total closings, making up 8.6%. This is up on a percentage basis from 11 of 172 a year earlier. Closings of new and existing homes saw a drop year-over-year in February after remaining steady in January year-over-year.
Pricing and Mortgage Trends
The average new home price was $152,038, a move from $153,182 a year earlier. This followed a 6.7% rise in January year-over-year.
The average mortgage size went down to $140,888 from $144,051 a year earlier. Average mortgage size on new homes went from $171,357 in January 2012 to $164,432 in January 2013.
Recent Figures Show New Home Sales Climb in Greenville
Posted on: May 06, 2013 07:14:50 AM
There was a rise in closings of new homes in the Greenville, NC market in February year-over-year, but the increase was less than January 2013. New home closings moved from 11 a year earlier to 13 after the figure moved from 13 in January 2012 to 18 in January 2013.
A total of 232 new homes were sold during the 12 months that ended in February, up from 230 for the year that ended in January.
New home closings were 13 out of 152 total closings, making up 8.6%. This is up on a percentage basis from 11 of 172 a year earlier. Closings of new and existing homes saw a drop year-over-year in February after remaining steady in January year-over-year.
Pricing and Mortgage Trends
The average new home price was $152,038, a move from $153,182 a year earlier. This followed a 6.7% rise in January year-over-year.
The average mortgage size went down to $140,888 from $144,051 a year earlier. Average mortgage size on new homes went from $171,357 in January 2012 to $164,432 in January 2013.
Other Market Trends
As a share of new home closings, single-family home closings have risen from last year while the share belonging to attached units has fallen. Single-family home closings made up all of new home closings after accounting for 10 of 11 last year. Meanwhile, attached units made up no part of new home closings after making up one of 11 closings a year earlier.
The average unit size of newly sold homes fell from 1,761 square feet a year earlier to 1,490 square feet.
Foreclosures and real estate owned (REO) closings remained a burden on the market. Out of all existing home closings, foreclosures combined with REO closings accounted for 35.3% of closings. They made up 37.9% in February 2012. The percentage of existing home closings involving foreclosures went from 18.6% in February 2012 to 18.0% in February 2013 and REO closings as a percentage of existing home closings fell to 17.3% from 19.3% a year earlier.
Please refer to the ABOUT THIS MSA tab to learn more about geographic coverage and data availability in the Greenville, NC area.
Source: Housing Intelligence