New Home Closings in Joplin Increase, Prices Drop According to Recent Figures
Posted on: May 06, 2013 07:17:59 AM
There was an increase in new home closings in the Joplin, MO market in January year-over-year, rebounding from a year-over-year decline in December 2012. New home closings moved from nine a year earlier to 16 after the figure moved from 16 in December 2011 to 10 in December 2012.
A total of 176 new homes were sold during the 12 months that ended in January, up from 169 for the year that ended in December.
New home closings were 16 out of 224 total closings, making up 7.1%. This is up on a percentage basis from nine of 269 a year earlier. Closings of new and existing homes fell year-over-year in January after also falling in December year-over-year.
Pricing and Mortgage Trends
The average new home price was $139,199, down from $162,351 a year earlier. This came after a 38.7% fall in December from a year earlier.
The average mortgage size moved to $127,226, down from last year's $133,853. Average mortgage size on new homes went from $151,916 in December 2011 to $129,379 in December 2012.