Recent Figures Show New Home Sales Increase in Fayetteville, Prices Decline
Posted on: Mar 06, 2014 07:13:53 AM
In the Fayetteville, NC market, closings of new homes grew year-over-year in December, moving north after a fall in November 2013. New home closings saw a 14.8% rise from a year earlier to 93. This followed a 33.7% decline year-over-year in November.
A total of 1,066 new homes were sold during the 12 months that ended in December, up from 1,054 for the year that ended in November.
Of 401 total closings, 93 were of new homes. This is better than the 21.8% of closings a year earlier. For new and existing homes, closings increased year-over-year in December after also increasing in November year-over-year.
Pricing and Mortgage Trends
The average price of new homes fell 3.6% year-over-year in December to $206,547 per unit. This drop compares to a 13.9% rise in November year-over-year.
Average mortgage size on new homes went from $213,277 in December 2012 to $214,380 in December 2013. In November 2013, average mortgage size rose 6.6% from a year earlier.