New Home Sales and Prices Both Rise in Lincoln NE According to Newest Data
Posted on: Dec 06, 2013 07:26:51 AM
New home closings in the Lincoln, NE market climbed year-over-year in September, but with an increase less steep than that of August 2013, the market seemed to be showing signs of leveling out. New home closings saw a boost of 47.6% from the year earlier to 62. This came after a more than twofold hike year-over-year in August.
A total of 568 new homes were sold during the 12 months that ended in September, up from 548 for the year that ended in August.
Of 556 total closings, 62 were of new homes. This is an increase on a percentage basis, as new home closings were 8.5% of total closings a year ago. For new and existing homes, closings climbed year-over-year in September after also increasing in August year-over-year.
Pricing and Mortgage Trends
For newly sold homes, the average price gained 13.4% year-over-year in September to $230,437 per unit. This hike is better than the 11.0% surge in August year-over-year.
Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. In September 2013, the average mortgage size was $196,274, up 7.4% from a year earlier. In August 2013, average mortgage size gained 18.7% from a year earlier.