Latest Numbers For Fort Worth Show New Home Closings and Prices Gain
Posted on: Aug 08, 2014 11:16:52 AM
There was an increase in new home closings in the Fort Worth, TX market in May year-over-year, recovering from a fall in April 2014. New home closings saw a 15.1% jump from a year earlier to 1,728. This came after a 2.1% fall year-over-year in April.
A total of 17,832 new homes were sold during the 12 months that ended in May, up from 17,605 for the year that ended in April.
Out of all housing closings, new home closings made up 11.8%. This is better than the 10.6% of closings a year earlier. After dropping in April from a year earlier, closings of new and existing homes increased year-over-year in May.
Pricing and Mortgage Trends
Average price of newly sold homes saw a 5.5% gain year-over-year in May to $312,295 per unit. This rise is smaller than the 10.3% gain in April year-over-year.
Average mortgage size on new homes jumped year-over-year along with new home prices. It rose 5.4% in May from a year earlier to $267,643. In April 2014, average mortgage size increased 9.9% from a year earlier.