New Home Sales and Prices Fall in Elizabethtown According to Freshest Data
Posted on: Feb 12, 2014 07:06:54 AM
Closings of new homes in the Elizabethtown, KY market fell year-over-year in November, and the percentage fall worsened from October 2013, indicating the market may be weakening. New home closings saw a drop of 30.0% from the year earlier to 168. In comparison, new home closings in the same month last year saw a 27.6% decline year-over-year in October.
A total of 2,385 new homes were sold during the 12 months that ended in November, down from 2,457 for the year that ended in October.
Out of all housing closings, new home closings made up 23.7%. This is down from the 28.2% of closings a year earlier. Closings of new and existing homes slid year-over-year in November after also falling in October year-over-year.
Pricing and Mortgage Trends
The average price of new homes sank 1.9% year-over-year in November to $173,756 per unit. This decline compares to a 10.0% boost in October year-over-year.
For newly sold homes, the average mortgage size dropped year-over-year in contrast to average price of new homes. It sank to $163,545 in November, a 2.5% decline. In October 2013, average mortgage size on newly sold homes saw a 7.6% surge year-over-year from a year earlier.