Freshest Numbers Indicate New Home Closings and Prices Decline in Boulder
Posted on: May 06, 2013 07:04:32 AM
In the Boulder, CO market, closings of new homes declined year-over-year in February, and the percentage drop was steeper than January 2013. New home closings saw a 22.9% fall from a year earlier to 27. This came on the heels of a 10.3% drop year-over-year in January.
A total of 463 new homes were sold during the 12 months that ended in February, down from 471 for the year that ended in January.
Moving south from a year earlier, new home closings in February 2013 made up 7.2% of overall housing closings, while the year-ago figure was 12.6%. Closings of new and existing homes grew year-over-year in February after also rising in January year-over-year.
Pricing and Mortgage Trends
Average value of new homes sold in February was $389,042 per unit, down 7.3% from a year earlier. This decline is larger than the 5.0% decline in January from a year earlier.
Average mortgage size on new homes went from $286,175 in February 2012 to $283,791 in February 2013. It went from $321,024 to $323,836 from January 2012 to January 2013. For new home closings, the percentage of the sale price that was being financed increased 4.8 percentage points year-over-year to 72.9% in February 2013. This was another rise after January 2013 when there was a 4.1 percentage point rise from a year earlier.