Greenville, NC - Latest New Home Sales Numbers Give Hints Market Decrease is Deepening
Posted on: May 07, 2012 09:14:55 AM
New home sales in the Greenville, NC market slid year-over-year in February, and the decline was by a larger percentage than the January 2012. New home sales moved from 20 a year earlier to 13 after the figure moved from 16 in January 2011 to 14 in January 2012.
A total of 298 new homes were sold during the 12 months that ended in February, down from 305 for the year that ended in January.
New home sales accounted for 13 of the 136 total sales, a smaller percentage compared with 20 of 122 sales a year earlier. Following a year-over-year increase in January, sales of new and existing homes also grew year-over-year in February.
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Pricing and Mortgage Trends
The average value of new homes sold in February 2012 declined to $146,167 from the year-earlier figure of $179,375. This followed a 28.9% bump in January year-over-year.
The average mortgage size went down to $144,051 from $182,452 a year earlier. Average mortgage size on new homes went from $142,072 in January 2011 to $171,357 in January 2012.
Greenville, NC - Latest New Home Sales Numbers Give Hints Market Decrease is Deepening
Posted on: May 07, 2012 09:14:55 AM
New home sales in the Greenville, NC market slid year-over-year in February, and the decline was by a larger percentage than the January 2012. New home sales moved from 20 a year earlier to 13 after the figure moved from 16 in January 2011 to 14 in January 2012.
A total of 298 new homes were sold during the 12 months that ended in February, down from 305 for the year that ended in January.
New home sales accounted for 13 of the 136 total sales, a smaller percentage compared with 20 of 122 sales a year earlier. Following a year-over-year increase in January, sales of new and existing homes also grew year-over-year in February.
Pricing and Mortgage Trends
The average value of new homes sold in February 2012 declined to $146,167 from the year-earlier figure of $179,375. This followed a 28.9% bump in January year-over-year.
The average mortgage size went down to $144,051 from $182,452 a year earlier. Average mortgage size on new homes went from $142,072 in January 2011 to $171,357 in January 2012.
Other Market Trends
The share of new home sales made up by attached units has risen while the share belonging to single-family homes has fallen. Attached sales made up two of 13 new home sales after accounting for no part of sales a year earlier. Meanwhile, single-family homes made up 11 of 13 new home sales after making up all of sales a year earlier.
The average unit size of newly sold homes fell from 2,147 square feet a year earlier to 1,510 square feet.
Foreclosures and real estate owned (REO) sales stayed a drag on the market. Out of all existing home sales, foreclosures combined with REO sales made up 45.5% of sales. They represented 51.0% in February 2011. The percentage of existing home sales involving foreclosures rose to 24.4% in February from 15.7% a year earlier while REO sales as a percentage of existing home sales fell to 21.1% from 35.3% a year earlier.
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Source: Housing Intelligence