Freshest Figures Show New Home Prices Gain, Sales Decline in Ogden
Posted on: Apr 06, 2014 07:30:57 AM
In the Ogden, UT market in January, new home closings slid year-over-year, and the market seemed to be worsening in light of the percentage drop steeper than December 2013. There was a 39.2% fall in new home closings from a year earlier. This came after a 14.8% drop year-over-year in December.
A total of 1,273 new homes were sold during the 12 months that ended in January, down from 1,304 for the year that ended in December.
Out of all housing closings, new home closings represented 8.1%. This is a decline 11.5% of closings a year earlier. Closings of new and existing homes sank year-over-year in January after remaning steady in December year-over-year.
Pricing and Mortgage Trends
Average price of newly sold homes saw a 8.7% gain year-over-year in January to $327,357 per unit. This bump is higher than the 6.3% rise in December year-over-year.
For newly sold homes, the average mortgage size climbed year-over-year along with new home prices. Average mortgage size rose 10.4% to $283,373 in January from a year earlier. In December 2013, average mortgage size on newly sold homes saw a 3.7% hike year-over-year from a year earlier.