Freshest Figures Show New Home Sales and Prices Fall in Columbus
Posted on: Dec 06, 2013 07:11:18 AM
In the Columbus, OH market in August, closings of new homes sank year-over-year, a drop following an increase in July 2013. Closings slumped 6.0% from a year earlier to 251. In comparison, new home closings in the same month last year saw a 34.7% boost year-over-year in July.
A total of 2,643 new homes were sold during the 12 months that ended in August, down from 2,659 for the year that ended in July.
As a percentage of overall housing closings, new home closings represented 6.7%. This is a drop 7.7% of closings a year earlier. Following a year-over-year increase in July, closings of new and existing homes also climbed year-over-year in August.
Pricing and Mortgage Trends
The average per-unit value of new homes dropped year-over-year to $243,940 in August, a decline of 2.2% from a year earlier. This fall compares to a 6.4% lift in July year-over-year.
There was a gain year-over-year in the average mortgage size on new homes in contrast to new home prices. In August 2013, the average mortgage size was $219,936, up 1.4% from a year earlier. In July 2013, average mortgage size on newly sold homes saw a 14.0% rise year-over-year from a year earlier.