New Home Sales and Prices Decrease in Fort Smith AR According to Newest Data
Posted on: Aug 08, 2014 11:22:15 AM
The Fort Smith, AR market saw a drop in new home closings year-over-year in May, and the decline was similar to April 2014. New home closings moved from 4 a year earlier to 2 after the figure moved from 6 in April 2013 to 3 in April 2014.
A total of 44 new homes were sold during the 12 months that ended in May, down from 46 for the year that ended in April.
2 of the 369 total closings were new home closings, a shift on a percentage basis from 4 out of 387 a year earlier. Closings of new and existing homes slid year-over-year in May after also falling in April year-over-year.
Pricing and Mortgage Trends
The average per-unit price of new homes was $151,500, compared with $184,750 last year. This was on the heels of a 15.6% drop in April from a year earlier.
Average mortgage size on newly sold homes saw a decline year-over-year from $167,517 to $144,827. Average mortgage size on new homes went from $147,395 in April 2013 to $116,933 in April 2014.