New Home Sales and Prices Both Climb in Fort Wayne According to Latest Data
Posted on: Jul 06, 2014 07:12:57 AM
New home closings climbed year-over-year in March in the Fort Wayne, IN market, and the percentage rise was higher than February 2014, implying the market may be improving. There was a 10.0% climb in new home closings from a year earlier. This came after a 8.0% climb year-over-year in February.
A total of 491 new homes were sold during the 12 months that ended in March, up from 488 for the year that ended in February.
New home closings accounted for 4.9% of overall housing closings. They represented 4.2% of closings a year earlier. Following a year-over-year decline in February, closings of new and existing homes also fell year-over-year in March.
Pricing and Mortgage Trends
For newly sold homes, the average price gained 19.0% year-over-year in March to $245,631 per unit. This hike is better than the 7.0% surge in February year-over-year.
For newly sold homes, the average mortgage size saw a rise year-over-year along with new home prices. It grew to $208,190 in March, a 18.6% hike. In February 2014, average mortgage size jumped 3.3% from a year earlier.