New Home Closings and Prices in Lincoln NE Gain According to Recent Figures
Posted on: Mar 06, 2014 07:24:15 AM
New home closings jumped year-over-year in December in the Lincoln, NE market, but with an increase less steep than that of November 2013, the market seemed to be showing signs of stabilizing. Closings climbed 16.3% from a year earlier to 50. This came on the heels of a 27.7% climb year-over-year in November.
A total of 622 new homes were sold during the 12 months that ended in December, up from 615 for the year that ended in November.
As a percentage of overall housing closings, new home closings represented 11.2% of overall housing closings. A year ago, 10.6% of total closings were new home closings. Following a year-over-year increase in November, closings of new and existing homes also increased year-over-year in December.
Pricing and Mortgage Trends
The average price of newly sold homes increased year-over-year 13.9% in December to $260,380 per unit. This hike is higher than the 4.8% bump in November year-over-year.
The average mortgage size on new homes moved north year-over-year along with new home prices. Average mortgage size increased 11.6% to $200,802 in December from a year earlier. Average mortgage size dropped 1.2% in November 2013 from a year earlier.