Recent Numbers For Fort Worth Show New Home Closings and Prices Increase
Posted on: Apr 06, 2014 07:10:22 AM
In the Fort Worth, TX market in January, new home closings increased year-over-year, and with a more robust boost than December 2013, there are signs the market may be strengthening. New home closings saw a 10.1% boost from a year earlier to 1,194. This followed a 9.2% rise year-over-year in December.
A total of 17,815 new homes were sold during the 12 months that ended in January, up from 17,705 for the year that ended in December.
Of 8,592 total closings, 1,194 were of new homes. This is a boost from 12.9% of closings a year earlier. Closings of new and existing homes gained year-over-year in January after also rising in December year-over-year.
Pricing and Mortgage Trends
In January, there was a 10.4% surge year-over-year in the average price of newly sold homes, reaching $298,877 per unit. This surge is smaller than the 14.2% rise in December year-over-year.
Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. In January 2014, average mortgage size increased 10.3% from a year earlier to $256,272. In December 2013, average mortgage size gained 13.6% from a year earlier.