Latest Numbers Show Prices of New Homes Climb in Fort Smith AR, Sales Fall
Posted on: Jul 06, 2014 07:12:41 AM
New home closings slid year-over-year in April in the Fort Smith, AR market, falling after a rise in March 2014. New home closings moved from 18 a year earlier to 8 after the figure moved from 6 in March 2013 to 12 in March 2014.
A total of 131 new homes were sold during the 12 months that ended in April, down from 141 for the year that ended in March.
On a percentage basis, new home closings as a part of total closings decreased to 2.4% from 4.6% a year earlier. Following a year-over-year decline in March, closings of new and existing homes also declined year-over-year in April.
Pricing and Mortgage Trends
The average new home price was $177,087, up from $140,456 a year earlier. This followed a 19.1% lift in March year-over-year.
From the year-ago figure of $138,910, the average mortgage size on new homes moved up to $154,698. Average mortgage size on new homes went from $150,455 in March 2013 to $189,173 in March 2014.