New Home Sales and Prices Fall in Fayetteville According to Latest Data
Posted on: Apr 06, 2014 07:13:49 AM
In January, the Fayetteville, NC market saw a decline year-over-year in new home closings, a downhill move after a hike in December 2013. There was a 13.6% fall in new home closings from a year earlier. This followed a 14.8% hike year-over-year in December.
A total of 1,055 new homes were sold during the 12 months that ended in January, down from 1,066 for the year that ended in December.
Out of all housing closings, new home closings represented 16.3%. This is down from the 21.5% of closings a year earlier. Following a year-over-year increase in December, closings of new and existing homes also rose year-over-year in January.
Pricing and Mortgage Trends
The average per-unit value of new homes slid year-over-year to $208,364 in January, a decline of 2.9% from a year earlier. This decline is a drop off from the 3.6% fall in December from a year earlier.
The average mortgage size on newly sold homes moved south year-over-year in contrast to new home prices. In January 2014, the average mortgage size on newly sold homes saw a 2.3% drop from a year earlier. It went from $213,277 to $214,380 from December 2012 to December 2013.