Freshest Figures Show New Home Sales and Prices Gain in Boise City
Posted on: Apr 06, 2014 07:05:06 AM
There was a rise in new home closings in the Boise City, ID market in January year-over-year, but the increased on a percentage basis less sharlpy than December 2013, showing signs of market stabilization. New home closings saw a 18.4% hike from a year earlier to 161. This followed a 53.4% rise year-over-year in December.
A total of 2,631 new homes were sold during the 12 months that ended in January, up from 2,606 for the year that ended in December.
As a percentage of overall housing closings, new home closings made up 15.3%. This marks a rise from 11.7% of total closings a year earlier. Following a year-over-year decline in December, closings of new and existing homes also fell year-over-year in January.
Pricing and Mortgage Trends
In January, there was a 13.3% hike year-over-year in the average price of newly sold homes, reaching $258,263 per unit. This bump is better than the 12.0% lift in December year-over-year.
The average mortgage size on new homes moved north year-over-year along with new home prices. In January 2014, the average mortgage size on newly sold homes saw a 13.9% surge from a year earlier. In December 2013, average mortgage size on newly sold homes saw a 10.1% gain year-over-year from a year earlier.