New Home Sales and Prices Both Increase in Lincoln NE According to Freshest Data
Posted on: May 06, 2013 07:21:07 AM
In February, there was an increase in closings of new homes in the Lincoln, NE market year-over-year, but the percentage boost was less pronounced than January 2013, indicating the market may be stabilizing. New home closings increased by 11.5% in February 2013 from a year earlier, after closings saw a 34.8% jump in January from the year earlier.
A total of 502 new homes were sold during the 12 months that ended in February, up from 499 for the year that ended in January.
New home closings accounted for 8.4% of overall housing closings. This marks a rise from 7.3% of total closings a year earlier. Following a year-over-year increase in January, closings of new and existing homes fell year-over-year in February.
Pricing and Mortgage Trends
In February, the average price of newly sold homes increased 5.1% year-over-year to $249,034 per unit. This rise follows a move from $216,478 per unit in January 2012 to $217,935 in January 2013.
The average mortgage size on newly sold homes saw a decline year-over-year in contrast to new home prices. In February 2013, average mortgage size slipped 7.8% from a year earlier to $200,528. Average mortgage size jumped 16.7% in January 2013 from a year earlier. Of the overall sale price, the percentage that was being financed declined 11.3 percentage points year-over-year to 80.5% in February 2013. In January 2013, there was a 12.5 percentage point hike from a year earlier.