Latest Numbers For Idaho Falls Show New Home Closings and Prices Gain
Posted on: Mar 06, 2014 07:19:13 AM
In the Idaho Falls, ID market in December, closings of new homes jumped year-over-year, rebounding from a year-over-year decline in November 2013. New home closings saw a climb of 53.3% from the year earlier to 23. In comparison, new home closings in the same month last year saw a 4.8% drop year-over-year in November.
A total of 213 new homes were sold during the 12 months that ended in December, up from 205 for the year that ended in November.
Out of all housing closings, new home closings represented 11.4%. This is better than the 7.6% of closings a year earlier. Following a year-over-year increase in November, closings of new and existing homes also rose year-over-year in December.
Pricing and Mortgage Trends
The average price of new homes jumped year-over-year in December to $202,264 per unit, a rise of 6.0%. This hike is smaller than the 7.9% boost in November year-over-year.
For newly sold homes, the average mortgage size saw a bump year-over-year along with new home prices. In December 2013, the average mortgage size on newly sold homes saw a 6.2% surge from a year earlier. In November 2013, average mortgage size on newly sold homes saw a 5.8% hike year-over-year from a year earlier.