New Home Prices Gain in Cheyenne According to Latest Figures, Sales Fall
Posted on: Mar 06, 2014 07:07:45 AM
New home closings sank year-over-year in December in the Cheyenne, WY market, a move downward following a lift in November 2013. New home closings saw a 20.0% fall from a year earlier to 24. This came after a 66.7% hike year-over-year in November.
A total of 235 new homes were sold during the 12 months that ended in December, down from 241 for the year that ended in November.
As a percentage of overall housing closings, new home closings represented 13.5%. This is down from the 15.2% of closings a year earlier. Following a year-over-year increase in November, closings of new and existing homes declined year-over-year in December.
Pricing and Mortgage Trends
In December, the average value of new homes saw a 3.3% gain year-over-year as it grew to $214,267 per unit. This bump is smaller than the 14.0% lift in November year-over-year.
Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. In December 2013, the average mortgage size was $185,561, a 2.0% surge from a year earlier. Average mortgage size gained 9.0% in November 2013 from a year earlier.