Newest Numbers Indicate New Home Closings and Prices Decrease in Ogden
Posted on: May 06, 2013 07:26:55 AM
Closings of new homes in the Ogden, UT market declined year-over-year in February, and the decline was by a larger percentage than the January 2013. New home closings moved from 63 a year earlier to eight after the figure moved from 50 in January 2012 to 13 in January 2013.
A total of 660 new homes were sold during the 12 months that ended in February, down from 715 for the year that ended in January.
New home closings accounted for eight of the 315 total closings, a smaller percentage compared with 63 of 828 closings a year earlier. Closings of new and existing homes dropped year-over-year in February after also falling in January year-over-year.
Pricing and Mortgage Trends
The average value of new homes sold in February 2013 declined to $254,888 from the year-earlier figure of $267,545. This came after a 17.6% lift in January year-over-year.
From the year-ago figure of $251,891, the average mortgage size on new homes moved up to $270,451. Average mortgage size on new homes went from $225,307 in January 2012 to $237,789 in January 2013.