New Home Prices Increase in Tucson According to Recent Data, Sales Steady
Posted on: Apr 06, 2014 07:43:30 AM
Closings of new homes in the Tucson, AZ market remained unchanged year-over-year in January, leveling out after a year-over-year drop in December. Closings remained steady from a year earlier at 86. In the same month last year, closings slumped 13.1%.
A total of 1,357 new homes were sold during the 12 months that ended in January, equal to the number of new homes sold for the year that ended in December.
Out of all housing closings, new home closings made up 7.2%. This is better than the 5.8% of closings a year earlier. For new and existing homes, closings slid in January after also declining in December year-over-year.
Pricing and Mortgage Trends
Average price of newly sold homes saw a 3.5% gain year-over-year in January to $261,951 per unit. This surge compares to a 3.8% drop in December from a year earlier.
The average mortgage size on newly sold homes rose year-over-year along with the average price of new homes. It climbed to $238,803 in January, a 10.5% surge. Average mortgage size climbed 7.1% in December 2013 from a year earlier.