Prices of New Homes Gain in Las Cruces, Sales Fall According to Freshest Data
Posted on: Apr 06, 2014 07:22:58 AM
Closings of new homes declined year-over-year in January in the Las Cruces, NM market, a downhill move after a lift in December 2013. There was a 12.5% fall in new home closings from a year earlier. This came after a 10.4% hike year-over-year in December.
A total of 453 new homes were sold during the 12 months that ended in January, down from 457 for the year that ended in December.
Of 169 total closings, 28 were of new homes. This is a gain from 14.6% of closings a year earlier. Following a year-over-year increase in December, closings of new and existing homes slid year-over-year in January.
Pricing and Mortgage Trends
In January, the average price of newly sold homes grew year-over-year to $197,748 per unit, a 4.2% surge. This rise is smaller than the 12.2% hike in December year-over-year.
For newly sold homes, average mortgage size moved from $175,513 in January 2013 to $177,132 in January 2014. In December 2013, average mortgage size gained 8.8% from a year earlier.