Check Out the Newest Numbers Indicate New Home Closings and Prices Drop in Columbus
Posted on: Apr 09, 2014 07:00:30 AM
In the Columbus, GA market, closings of new homes dropped year-over-year in December, moving downward after a surge in November 2013. Closings slumped 7.4% from a year earlier to 25. This came after a 6.7% hike year-over-year in November.
A total of 400 new homes were sold during the 12 months that ended in December, down from 402 for the year that ended in November.
Out of all housing closings, new home closings made up 9.3%. As a part of the whole, new home closings were 9.2% a year earlier. Closings of new and existing homes declined year-over-year in December after also falling in November year-over-year.
Pricing and Mortgage Trends
Average price of newly sold homes saw a 4.6% fall year-over-year in December to $223,872 per unit. This decline compares to a 15.7% hike in November year-over-year.
Average mortgage size on new homes slid year-over-year in contrast to new home prices. In December 2013, there was a 6.3% drop in the average mortgage size on new homes to $209,692. In November 2013, average mortgage size jumped 7.2% from a year earlier.