Recent Figures Indicate Prices of New Homes Rise, Sales Stay Level in Kokomo
Posted on: Mar 06, 2014 07:21:56 AM
New home closings in the Kokomo, IN market were unchanged year-over-year in December, staying level after a year-over-year increase in November from a year earlier. New home closings moved from 1 a year earlier to 1 after the figure moved from none in November 2012 to 2 in November 2013. Closings remained level at 1 from a year earlier after the figure moved from none in November 2012 to 2 in November 2013.
1 of the 144 total closings were new home closings, a shift on a percentage basis from 1 out of 214 a year earlier. Following a year-over-year increase in November, closings of new and existing homes slid year-over-year in December.
Pricing and Mortgage Trends
The average price of new homes was $538,875, an increase from $113,369 a year earlier. This came after a set of periods with no new home closings in both November 2013 or November 2012.
From the year-ago figure of $117,247, the average mortgage size on new homes moved up to $431,100.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in December 2013.