New Home Sales and Prices Drop in Fayetteville According to Newest Data
Posted on: May 06, 2013 07:11:49 AM
In the Fayetteville, NC market, closings of new homes slipped year-over-year in February, a move downward following a hike in January 2013. New home closings fell by 6.1% in February 2013 from a year earlier, after closings saw a 26.6% climb in January from the year earlier.
A total of 1,133 new homes were sold during the 12 months that ended in February, down from 1,138 for the year that ended in January.
Of the total number of closings, new home closings made up 24.1%. A year ago, new home closings represented 23.4%. Following a year-over-year rise in January, closings of new and existing homes declined year-over-year in February.
Pricing and Mortgage Trends
In February, the average price of newly sold homes dipped year-over-year to $201,942 per unit, a 5.3% decline. This is a downward shift from the 9.7% rise in January year-over-year.
The average mortgage size on newly sold homes moved south year-over-year in contrast to new home prices. The average mortgage size fell to $205,034 in February, marking a 1.3% decline compared with last year. In January 2013, average mortgage size rose 7.9% from a year earlier.