Newest Numbers For Fort Wayne Show New Home Closings and Prices Gain
Posted on: Mar 06, 2014 07:15:08 AM
In the Fort Wayne, IN market in November, new home closings climbed year-over-year, swinging up off a relatively small change in October from the year earlier. Closings moved to 41, marking a 5.1% hike from a year earlier. Closings remained the same in October from the year earlier.
A total of 456 new homes were sold during the 12 months that ended in November, up from 454 for the year that ended in October.
As a percentage of overall housing closings, new home closings accounted for 5.5% of overall housing closings. A year earlier, new home closings accounted for 5.9% of total closings. Following a year-over-year increase in October, closings of new and existing homes also jumped year-over-year in November.
Pricing and Mortgage Trends
In November, the average price of newly sold homes rose year-over-year to $228,162 per unit, a 24.1% boost. This bump is better than the 3.4% gain in October year-over-year.
Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. In November 2013, average mortgage size grew 18.4% from a year earlier to $194,183. In October 2013, average mortgage size fell 2.0% from a year earlier.