New Home Closings Gain in Jackson According to Recent Data
Posted on: Dec 06, 2013 07:22:41 AM
In the Jackson, TN market, closings of new homes jumped year-over-year in September, rebounding from a year-over-year decline in August 2013. New home closings moved from 4 a year earlier to 6 after the figure moved from 13 in August 2012 to 4 in August 2013.
New home closings were 6 out of the 175 total closings, a move on a percentage basis from 4 of 156 a year earlier. Following a year-over-year increase in August, closings of new and existing homes also gained year-over-year in September.
Pricing and Mortgage Trends
The average new home price was $212,490, a move from $213,450 a year earlier. This was on the heels of a 17.0% drop in August from a year earlier.
Average mortgage size on new homes rose from $161,952 to $197,177. Average mortgage size on new homes went from $187,507 in August 2012 to $152,071 in August 2013.
Other Market Trends
There was no change in the composition of the new-home market with regard to the types of properties sold in September 2013.