New Home Sales Climb in Atlanta, Prices Decline According to Newest Data
Posted on: Dec 06, 2013 07:03:11 AM
There was a rise in closings of new homes in the Atlanta, GA market in August year-over-year, but the market seemed to be signaling at stabilizing with a percentage lift less pronounced than July 2013. New home closings saw a climb of 40.1% from the year earlier to 1,038. This came after a 52.2% boost year-over-year in July.
A total of 9,276 new homes were sold during the 12 months that ended in August, up from 8,979 for the year that ended in July.
As a percentage of overall housing closings, new home closings accounted for 9.2%. This is an increase on a percentage basis, as new home closings were 6.4% of total closings a year ago. Following a year-over-year increase in July, closings of new and existing homes sank year-over-year in August.
Pricing and Mortgage Trends
In August, the average price for new home closings was $283,302, a 4.6% decline from last year. This fall compares to a 3.3% gain in July year-over-year.
The average mortgage size on newly sold homes fell year-over-year in contrast to the average price of new homes. It sank 1.9% in August from a year earlier to $244,200. Average mortgage size went from $253,045 in July 2012 to $250,760 in July 2013.