Latest Figures Show New Home Sales and Prices Climb in Rocky Mount
Posted on: May 06, 2013 07:31:33 AM
There was a rise in closings of new homes in the Rocky Mount, NC market in February year-over-year, but the increase was less than January 2013. New home closings moved from three a year earlier to five after the figure moved from two in January 2012 to eight in January 2013.
A total of 58 new homes were sold during the 12 months that ended in February, up from 56 for the year that ended in January.
New home closings were five out of 106 total closings, making up 4.7%. This is up on a percentage basis from three of 102 a year earlier. Following a year-over-year increase in January, closings of new and existing homes also rose year-over-year in February.
Pricing and Mortgage Trends
The average new home value went from $123,333 last year to $176,700,. This came after a 23.9% surge in January year-over-year.
From the year-ago figure of $89,768, the average mortgage size on new homes moved up to $136,692. Average mortgage size on new homes went from $176,308 in January 2012 to $198,482 in January 2013. The overall percentage of sale price that was being financed increased 4.6 percentage points year-over-year to 77.4% in February 2013. This came after a 9.1 percentage point decline in January from a year earlier.