New Home Prices Increase in Fayetteville AR According to Newest Figures, Sales Fall
Posted on: Jul 06, 2014 07:12:02 AM
In the Fayetteville, AR market in April, new home closings dropped year-over-year, but compared with March 2014, the percentage decline was less steep, suggesting that the market may be stabilizing. New home closings saw a fall of 2.5% from the year earlier to 116. This came on the heels of a 2.8% fall year-over-year in March.
A total of 1,308 new homes were sold during the 12 months that ended in April, down from 1,311 for the year that ended in March.
Of 856 total closings, 116 were of new homes. This marks a rise from 11.9% of total closings a year earlier. Closings of new and existing homes fell year-over-year in April after also falling in March year-over-year.
Pricing and Mortgage Trends
In April, there was a 1.4% bump year-over-year in the average price of newly sold homes, reaching $233,046 per unit. This boost follows a move from $233,747 per unit to $231,495 from March 2013 to March 2014.
The average mortgage size on newly sold homes saw a lift year-over-year along with new home prices. It grew to $211,822 in April, a 4.4% gain. In March 2014, average mortgage size dropped 4.5% from a year earlier.