Latest Numbers For Fort Wayne Show New Home Closings and Prices Gain
Posted on: Apr 06, 2014 07:15:03 AM
In the Fort Wayne, IN market, closings of new homes rose year-over-year in December, and the percentage surge was better than November 2013, suggesting the market may be strengthening. New home closings saw a 50.0% rise from a year earlier to 57. This followed a 15.0% rise year-over-year in November.
A total of 498 new homes were sold during the 12 months that ended in December, up from 479 for the year that ended in November.
As a percentage of overall housing closings, new home closings represented 8.5%. This is an increase on a percentage basis, as new home closings were 6.3% of total closings a year ago. Following a year-over-year increase in November, closings of new and existing homes also jumped year-over-year in December.
Pricing and Mortgage Trends
The average price of new homes climbed year-over-year 1.1% in December to $232,412 per unit. This gain is smaller than the 22.3% hike in November year-over-year.
There was a gain year-over-year in the average mortgage size on new homes along with new home prices. The average mortgage size rose to $197,547 in December, marking a 1.1% surge compared with a year earlier. Average mortgage size gained 18.1% in November 2013 from a year earlier.