Freshest Figures Show New Home Sales Rise in Des Moines, Prices Fall
Posted on: Nov 12, 2013 07:12:16 AM
Closings of new homes in the Des Moines, IA market climbed year-over-year in July, swinging upward off a decline in June 2013. Closings gained 12.4% from a year earlier to 136. This came after a 13.5% decline year-over-year in June.
A total of 1,269 new homes were sold during the 12 months that ended in July, up from 1,254 for the year that ended in June.
Out of all housing closings, new home closings accounted for 9.5%. They represented 10.1% of closings a year earlier. Following a year-over-year increase in June, closings of new and existing homes also jumped year-over-year in July.
Pricing and Mortgage Trends
In July, the average price for new home closings was $244,710, a 4.6% fall from last year. This decline compares to a 4.1% bump in June year-over-year.
Average mortgage size on new homes declined year-over-year in contrast to new home prices. In July 2013, average mortgage size on new homes sold was $215,779, down 2.7% from a year earlier. In June 2013, average mortgage size on newly sold homes saw a 6.0% boost year-over-year from a year earlier.