New Home Closings and Prices in Logan Drop According to Latest Figures
Posted on: Apr 06, 2014 07:24:14 AM
In the Logan, UT market in January, closings of new homes sank year-over-year, falling after a rise in December 2013. New home closings moved from 9 a year earlier to 8 after the figure moved from 9 in December 2012 to 23 in December 2013.
A total of 171 new homes were sold during the 12 months that ended in January, down from 172 for the year that ended in December.
8 of the 125 total closings were new home closings, a shift on a percentage basis from 9 out of 143 a year earlier. Following a year-over-year increase in December, closings of new and existing homes declined year-over-year in January.
Pricing and Mortgage Trends
The average new home price was $181,023, down from $234,828 a year earlier. This came after a 1.6% fall in December from a year earlier.
The average mortgage size went down to $162,729 from $187,862 a year earlier. Average mortgage size on new homes went from $186,380 in December 2012 to $189,490 in December 2013.