Freshest Figures Show New Home Sales and Prices Fall in Lafayette
Posted on: Mar 06, 2014 07:22:06 AM
In the Lafayette, IN market in December, new home closings fell year-over-year, swinging downward off a year-over-year boost in November 2013. New home closings saw a 3.8% decline from a year earlier to 25. In comparison, new home closings in the same month last year saw a 45.8% hike year-over-year in November.
A total of 352 new homes were sold during the 12 months that ended in December, down from 353 for the year that ended in November.
Of 252 total closings, 25 were of new homes. This is better than the 8.8% of closings a year earlier. Following a year-over-year decline in November, closings of new and existing homes also slid year-over-year in December.
Pricing and Mortgage Trends
In December, the average price of newly sold homes dropped year-over-year to $203,597 per unit, marking a 4.4% decline from the year-earlier figure. This decline compares to a 9.8% boost in November year-over-year.
The average mortgage size on newly sold homes moved south year-over-year in contrast to new home prices. In December 2013, there was a 11.8% fall in the average mortgage size on new homes to $166,549. In November 2013, average mortgage size gained 9.6% from a year earlier.