Newest Figures Show New Home Prices Increase, Sales Drop in Lafayette
Posted on: Dec 06, 2013 07:24:43 AM
New home closings fell year-over-year in September in the Lafayette, IN market, sliding down after a hike in August 2013. New home closings saw a 15.6% drop from a year earlier to 27. This was after the housing market saw a 33.3% boost year-over-year in August.
A total of 341 new homes were sold during the 12 months that ended in September, down from 346 for the year that ended in August.
New home closings accounted for 10.1% of overall closings, unchanged from a year earlier. Following a year-over-year decline in August, closings of new and existing homes also sank year-over-year in September.
Pricing and Mortgage Trends
The average per-unit price of newly sold homes gained year-over-year to $255,853 in September, up 14.6% from last year. This gain compares to a 3.9% drop in August from a year earlier.
Average mortgage size on new homes increased year-over-year along with new home prices. Average mortgage size climbed 17.0% to $218,783 in September from a year earlier. In August 2013, average mortgage size on newly sold homes saw a 3.0% fall from a year earlier.