Freshest Numbers For Winston-Salem Show New Home Closings and Prices Climb
Posted on: Aug 08, 2014 11:57:17 AM
New home closings gained year-over-year in May in the Winston-Salem, NC market, and the percentage hike was an improvement from April 2014, suggesting the market may be gaining momentum. New home closings saw a jump of 11.5% from the year earlier to 68. This followed a 3.7% hike year-over-year in April.
A total of 632 new homes were sold during the 12 months that ended in May, up from 625 for the year that ended in April.
Out of all housing closings, new home closings accounted for 9.3%. This is better than the 8.0% of closings a year earlier. Following a year-over-year decline in April, closings of new and existing homes also slid year-over-year in May.
Pricing and Mortgage Trends
The average price of new homes gained year-over-year in May to $217,319 per unit, a rise of 11.1%. This rise is smaller than the 15.2% bump in April year-over-year.
Average mortgage size on new homes gained year-over-year along with new home prices. The average mortgage size saw a 17.1% boost year-over-year to $194,971 in May. In April 2014, average mortgage size on newly sold homes saw a 9.9% gain year-over-year from a year earlier.