Freshest Numbers Show Prices of New Homes Rise in Idaho Falls, Sales Decrease
Posted on: May 06, 2013 07:16:36 AM
New home closings in the Idaho Falls, ID market fell year-over-year in February, but the decline was less than the year-over-year decline in January. New home closings moved from nine a year earlier to eight after the figure moved from nine in January 2012 to five in January 2013.
A total of 180 new homes were sold during the 12 months that ended in February, down from 181 for the year that ended in January.
New home closings were eight of the 195 total closings, down on a percentage basis from nine of 171 a year earlier. Following a year-over-year increase in January, closings of new and existing homes also climbed year-over-year in February.
Pricing and Mortgage Trends
The average new home price was $186,060, up from $182,617 a year earlier. This was on the heels of a 19.5% gain in January year-over-year.
From the year-ago figure of $148,582, the average mortgage size on new homes moved up to $163,796. Average mortgage size on new homes went from $157,827 in January 2012 to $182,423 in January 2013. Of the overall sale price, the percentage that was being financed increased 6.7 percentage points year-over-year to 88.0% in February 2013. In January 2013, there was a 2.8 percentage point decline in January from a year earlier.