Newest Figures Show New Home Sales and Prices Fall in Fairbanks
Posted on: Apr 06, 2014 07:13:31 AM
In the Fairbanks, AK market in January, closings of new homes dropped year-over-year, sliding after a growth in December 2013. New home closings moved from 2 a year earlier to 1 after the figure moved from 2 in December 2012 to 3 in December 2013.
On a percentage basis, new home closings as a part of total closings decreased to 1.1% from 2.5% a year earlier. For new and existing homes, closings rose year-over-year in January after also increasing in December year-over-year.
Pricing and Mortgage Trends
The average new home price was $233,438, down from $257,735 a year earlier. This followed a 25.7% gain in December year-over-year.
The average mortgage size moved to $186,750, down from last year's $262,995. Average mortgage size on new homes went from $215,956 in December 2012 to $256,808 in December 2013.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in January 2014.