Latest Numbers Show New Home Closings Increase in Jackson, Prices Fall
Posted on: Apr 06, 2014 07:19:55 AM
There was an increase in new home closings in the Jackson, TN market in January year-over-year,. New home closings moved from 2 a year earlier to 3 after the figure moved from none in December 2012 to 3 in December 2013.
A total of 69 new homes were sold during the 12 months that ended in January, up from 68 for the year that ended in December.
New home closings were 3 out of 104 total closings, making up 2.9%. This is up on a percentage basis from 2 of 170 a year earlier. Following a year-over-year rise in December, closings of new and existing homes fell year-over-year in January.
Pricing and Mortgage Trends
The average new home price was $158,967, down from $221,900 a year earlier. This came after a shift from no closings in December 2012 to an average price of $207,233 in December 2013.
Average mortgage size on new homes went from $142,900 a year earlier to $157,228.