New Home Sales Rise in Idaho Falls, Prices Drop According to Newest Data
Posted on: Apr 06, 2014 07:18:57 AM
There was an increase in new home closings in the Idaho Falls, ID market in January year-over-year, and the increase was greater than December 2013. New home closings moved from 6 a year earlier to 15 after the figure moved from 15 in December 2012 to 23 in December 2013.
A total of 222 new homes were sold during the 12 months that ended in January, up from 213 for the year that ended in December.
New home closings were 15 of the 164 total closings, up on a percentage basis from 6 of 168 a year earlier. Following a year-over-year increase in December, closings of new and existing homes sank year-over-year in January.
Pricing and Mortgage Trends
The average value of newly sold homes in January 2014 was $201,947, down from last year's $218,074. This followed a 6.0% gain in December year-over-year.
There was a decline in average mortgage size on new homes, going from $179,859 last year to $176,299 in January 2014. In December 2013, average mortgage size on newly sold homes saw a 6.2% lift year-over-year from a year earlier.