Recent Figures Show New Home Sales and Prices Rise in Tampa
Posted on: Mar 06, 2014 07:42:39 AM
There was an increase in new home closings in the Tampa, FL market in December year-over-year, but with an increase less steep than that of November 2013, the market seemed to be showing signs of stabilizing. New home closings saw a 9.3% hike from a year earlier to 589. This followed a 21.5% rise year-over-year in November.
A total of 5,947 new homes were sold during the 12 months that ended in December, up from 5,897 for the year that ended in November.
Of the total number of closings, new home closings made up 9.4%. A year ago, new home closings represented 8.9%. Closings of new and existing homes rose year-over-year in December following a fall in November year-over-year.
Pricing and Mortgage Trends
The average price of new homes increased year-over-year 15.1% in December to $285,629 per unit. This rise is an improvement over the 8.0% surge in November year-over-year.
The average mortgage size on newly sold homes saw a lift year-over-year along with new home prices. In December 2013, the average mortgage size was $246,443, up 12.5% from a year earlier. In November 2013, average mortgage size on newly sold homes saw a 6.2% rise year-over-year from a year earlier.