Freshest Figures Show New Home Sales and Prices Rise in Bend
Posted on: Feb 11, 2014 07:03:29 AM
The Bend, OR market saw a rise in new home closings in November year-over-year, but the percentage rise was less pronounced than October 2013, indicating the market may be leveling out. New home closings saw a 5.4% climb from a year earlier to 39. This was after the housing market saw a 87.5% boost year-over-year in October.
A total of 499 new homes were sold during the 12 months that ended in November, up from 497 for the year that ended in October.
As a percentage of overall housing closings, new home closings represented 11.2% of overall housing closings. A year ago, new home closings made up 10.9%. For new and existing homes, closings increased year-over-year in November after also increasing in October year-over-year.
Pricing and Mortgage Trends
In November, there was a 7.1% surge year-over-year in the average price of newly sold homes, reaching $276,028 per unit. This gain is smaller than the 12.4% rise in October year-over-year.
The average mortgage size on newly sold homes saw a hike year-over-year along with new home prices. The average mortgage size saw a 17.1% lift year-over-year to $248,343 in November. In October 2013, average mortgage size on newly sold homes saw a 1.3% rise year-over-year from a year earlier.