Prices of New Homes Climb in Springfield, Sales Fall According to Freshest Data
Posted on: Apr 06, 2014 07:41:03 AM
In the Springfield, MO market, new home closings slid year-over-year in January, drawing a downward slope off of a rise in December 2013. New home closings saw a fall of 21.1% from the year earlier to 15. This came on the heels of a 34.8% climb year-over-year in December.
A total of 354 new homes were sold during the 12 months that ended in January, down from 358 for the year that ended in December.
As a percentage of total closings, new home closings made up 3.0%, unchanged from a year ago. For new and existing homes, closings sank in January after also declining in December year-over-year.
Pricing and Mortgage Trends
In January, the average price of newly sold homes jumped 5.2% year-over-year to $189,930 per unit. This surge is smaller than the 5.6% gain in December year-over-year.
For newly sold homes, the average mortgage size increased year-over-year along with new home prices. In January 2014, average mortgage size gained 2.4% from a year earlier to $163,918. Average mortgage size jumped 1.2% in December 2013 from a year earlier.