New Home Closings and Prices in Lincoln NE Increase According to Freshest Figures
Posted on: Jul 06, 2014 07:21:08 AM
There was a rise in new home closings in the Lincoln, NE market in April year-over-year, bouncing back from a decline in March 2014. Closings rose 64.9% from a year earlier to 61. In comparison, new home closings in the same month last year saw a 7.4% fall year-over-year in March.
A total of 663 new homes were sold during the 12 months that ended in April, up from 639 for the year that ended in March.
Of 569 total closings, 61 were of new homes. This is a hike from 6.9% of closings a year earlier. Closings of new and existing homes jumped year-over-year in April following a drop in March year-over-year.
Pricing and Mortgage Trends
In April, there was a 7.2% gain year-over-year in the average price of newly sold homes, reaching $240,000 per unit. This surge compares to a 1.6% fall in March from a year earlier.
The average mortgage size on newly sold homes increased year-over-year along with the average price of new homes. The average mortgage size rose to $202,461 in April, marking a 4.1% bump compared with a year earlier. In March 2014, average mortgage size on newly sold homes saw a 1.5% decline from a year earlier.