Recent Numbers For Lincoln NE Show New Home Closings and Prices Gain
Posted on: Aug 08, 2014 11:32:52 AM
There was a rise in new home closings in the Lincoln, NE market in May year-over-year, but the percentage hike, which was less than April 2014, seemed to suggest market leveling. New home closings saw a rise of 24.4% from the year earlier to 56. In comparison, new home closings in the same month last year saw a more than twofold rise year-over-year in April.
A total of 612 new homes were sold during the 12 months that ended in May, up from 601 for the year that ended in April.
As a percentage of overall housing closings, new home closings represented 8.9%. This is a gain from 6.9% of closings a year earlier. Following a year-over-year increase in April, closings of new and existing homes slid year-over-year in May.
Pricing and Mortgage Trends
For newly sold homes, the average price jumped 9.0% year-over-year in May to $276,401 per unit. This hike is higher than the 7.7% bump in April year-over-year.
For newly sold homes, the average mortgage size saw a gain year-over-year along with new home prices. The average mortgage size saw a 23.8% surge year-over-year to $253,128 in May. In April 2014, average mortgage size rose 4.3% from a year earlier.