Latest Numbers Show Prices of New Homes Gain in Springfield, Sales Decline
Posted on: Aug 08, 2014 11:51:12 AM
In the Springfield, MO market in May, new home closings slid year-over-year, but the decline was less than the year-over-year decline in April. New home closings moved from 36 a year earlier to 11 after the figure moved from 28 in April 2013 to 8 in April 2014.
A total of 192 new homes were sold during the 12 months that ended in May, down from 217 for the year that ended in April.
New home closings were 11 out of the 763 total closings, down on a percentage basis from 36 of 909 a year earlier. Following a year-over-year decline in April, closings of new and existing homes also fell year-over-year in May.
Pricing and Mortgage Trends
The average price of new homes rose to $218,602 from last year's $195,165. This followed a 15.8% rise in April year-over-year.
From the year-ago figure of $169,630, the average mortgage size on new homes moved up to $178,933. Average mortgage size on new homes went from $147,803 in April 2013 to $162,950 in April 2014.