Recent Numbers Show Prices of New Homes Climb in Fort Smith AR, Sales Fall
Posted on: Dec 06, 2013 07:16:57 AM
In September, there was a drop year-over-year in new home closings in the Fort Smith, AR market, and the decline was by a larger percentage than the August 2013. New home closings moved from 13 a year earlier to 8 after the figure moved from 17 in August 2012 to 15 in August 2013.
A total of 151 new homes were sold during the 12 months that ended in September, down from 156 for the year that ended in August.
New home closings represented 8 out of the 324 total closings, which is a smaller percentage than the 13 of 306 total closings a year earlier. For new and existing homes, closings rose year-over-year in September after also increasing in August year-over-year.
Pricing and Mortgage Trends
The average new home price was $188,750, up from $179,162 a year earlier. This followed a 27.5% lift in August year-over-year.
There was a decline in average mortgage size on new homes, going from $180,191 last year to $175,190 in September 2013. Average mortgage size gained 20.6% in August 2013 from a year earlier.