Latest Figures Show New Home Sales and Prices Decline in Anchorage
Posted on: Dec 06, 2013 07:02:04 AM
Closings of new homes in the Anchorage, AK market declined year-over-year in September, shifting downward off a surge in August 2013. There was a 6.5% fall in new home closings from a year earlier. This was after the housing market saw a 59.5% rise year-over-year in August.
A total of 502 new homes were sold during the 12 months that ended in September, down from 505 for the year that ended in August.
Of the total number of closings, new home closings made up 5.5%. A year earlier, new home closings made up 6.5% of total closings. Following a year-over-year increase in August, closings of new and existing homes also gained year-over-year in September.
Pricing and Mortgage Trends
Average price of newly sold homes had a 9.0% decline year-over-year to $327,941 per unit in September. This drop is a drop off from the 16.1% decline in August from a year earlier.
For newly sold homes, the average mortgage size saw a fall year-over-year in contrast to new home prices. It dropped to $287,867 in September, a 9.7% drop. In August 2013, average mortgage size on newly sold homes saw a 17.5% decline from a year earlier.