Newest Figures Show New Home Sales and Prices Rise in Atlanta
Posted on: May 06, 2013 07:02:14 AM
In the Atlanta, GA market in January, new home closings rose year-over-year, and the percentage hike that was sharper than December 2012 seems to indicate improving market conditions. Closings gained 34.3% from a year earlier to 482. This was after the housing market saw an 18.7% boost year-over-year in December.
A total of 7,572 new homes were sold during the 12 months that ended in January, up from 7,449 for the year that ended in December.
Out of all housing closings, new home closings accounted for 6.7%. This marks a rise from 4.4% of total closings a year earlier. For new and existing homes, closings slid in January after also declining in December year-over-year.
Pricing and Mortgage Trends
Average price of newly sold homes had an 11.7% gain year-over-year to $286,920 per unit in January. This boost is better than the 1.9% rise in December year-over-year.
For newly sold homes, the average mortgage size saw a bump year-over-year along with new home prices. In January 2013, the average mortgage size on newly sold homes saw an 11.6% rise from a year earlier. In December 2012, average mortgage size rose 2.4% from a year earlier. On aveage, the percentage of new home sale price that was being financed went from 87.7% of average price to 87.5% from a year earlier. It moved from 83.1% in December 2011 to 83.5% in December 2012.