Recent Numbers Show Prices of New Homes Rise in Ogden, Sales Decrease
Posted on: Mar 06, 2014 07:31:10 AM
Closings of new homes sank year-over-year in December in the Ogden, UT market, a shift downward off a hike in November 2013. Closings dropped 16.9% from a year earlier to 118. This came on the heels of a 12.2% jump year-over-year in November.
A total of 1,290 new homes were sold during the 12 months that ended in December, down from 1,314 for the year that ended in November.
New home closings represented 13.0% of overall housing closings. This is down from the 15.5% of closings a year earlier. Closings of new and existing homes remained steady in December after falling in November year-over-year.
Pricing and Mortgage Trends
Average price of newly sold homes had a 6.0% hike year-over-year to $334,825 per unit in December. This bump is higher than the 3.6% gain in November year-over-year.
Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. In December 2013, average mortgage size increased 3.4% from a year earlier to $289,190. In November 2013, average mortgage size declined 2.1% from a year earlier.