New Home Sales and Prices Both Rise in Fort Wayne According to Freshest Data
Posted on: Dec 06, 2013 07:17:19 AM
In the Fort Wayne, IN market, closings of new homes increased year-over-year in August, but the percentage edged up less than July 2013, suggesting the market may be leveling out. New home closings saw a rise of 4.4% from the year earlier to 47. In comparison, new home closings in the same month last year saw a 13.5% jump year-over-year in July.
A total of 434 new homes were sold during the 12 months that ended in August, up from 432 for the year that ended in July.
New home closings made up 5.1% of overall housing closings. They made up 5.9% of closings a year earlier. Closings of new and existing homes jumped year-over-year in August after also rising in July year-over-year.
Pricing and Mortgage Trends
In August, the average price of newly sold homes gained year-over-year to $253,561 per unit, a 28.7% gain. This gain is higher than the 26.0% lift in July year-over-year.
Average mortgage size on new homes increased year-over-year along with new home prices. It climbed 20.5% in August from a year earlier to $209,191. In July 2013, average mortgage size on newly sold homes saw a 18.3% rise year-over-year from a year earlier.