New Home Closings and Prices in Fort Worth Gain According to Recent Figures
Posted on: Jul 06, 2014 07:08:55 AM
In April, closings of new homes in the Fort Worth, TX market increased year-over-year, but the increased on a percentage basis less sharlpy than March 2014, showing signs of market stabilization. There was a 1.6% rise in new home closings from a year earlier. This followed a 2.6% hike year-over-year in March.
A total of 18,056 new homes were sold during the 12 months that ended in April, up from 18,033 for the year that ended in March.
As a percentage of overall housing closings, new home closings accounted for 12.1% of overall housing closings. They represented 11.4% of closings a year earlier. Following a year-over-year decline in March, closings of new and existing homes also slid year-over-year in April.
Pricing and Mortgage Trends
Average price of newly sold homes saw a 9.3% bump year-over-year in April to $304,413 per unit. This hike is smaller than the 10.8% rise in March year-over-year.
The average mortgage size on new homes moved north year-over-year along with new home prices. It jumped 8.8% in April from a year earlier to $261,368. In March 2014, average mortgage size on newly sold homes saw a 10.8% hike year-over-year from a year earlier.