Latest Numbers For Dallas-Fort Worth Show New Home Closings and Prices Increase
Posted on: Mar 06, 2014 07:10:20 AM
In the Dallas-Fort Worth, TX market, closings of new homes increased year-over-year in December, and the percentage boost, which was better than November 2013, suggested the market may be improving. There was a 7.1% rise in new home closings from a year earlier. This came on the heels of a 2.6% hike year-over-year in November.
A total of 17,488 new homes were sold during the 12 months that ended in December, up from 17,379 for the year that ended in November.
Of the total number of closings, new home closings made up 15.1%. As a part of the whole, new home closings were 14.2% a year earlier. After new and existing closings increased in November year-over-year, they stayed level in December.
Pricing and Mortgage Trends
In December, the average price of newly sold homes gained 13.9% year-over-year to $310,593 per unit. This gain is an improvement over the 13.3% hike in November year-over-year.
For newly sold homes, the average mortgage size saw a surge year-over-year along with new home prices. In December 2013, the average mortgage size was $267,328, a 13.5% boost from a year earlier. In November 2013, average mortgage size climbed 12.0% from a year earlier.