Recent Numbers For Dayton Show New Home Closings and Prices Increase
Posted on: Nov 12, 2013 07:11:45 AM
There was an increase in new home closings in the Dayton, OH market in July year-over-year, swinging up after a fall in June 2013. New home closings saw a jump of 35.1% from the year earlier to 50. This came on the heels of a 27.7% decline year-over-year in June.
A total of 472 new homes were sold during the 12 months that ended in July, up from 459 for the year that ended in June.
As a percentage of overall housing closings, new home closings accounted for 2.9% of closings, relatively stable from a year earlier. For new and existing homes, closings rose year-over-year in July after also increasing in June year-over-year.
Pricing and Mortgage Trends
In July, the average value of new homes saw a 13.0% boost year-over-year as it grew to $250,050 per unit. This gain is smaller than the 17.8% hike in June year-over-year.
The average mortgage size on newly sold homes saw a surge year-over-year along with new home prices. In July 2013, there was a 5.5% bump in the average mortgage size, reaching $215,546. In June 2013, average mortgage size rose 26.5% from a year earlier.