New Home Prices Gain in Little Rock AR According to Recent Figures, Sales Decrease
Posted on: Apr 06, 2014 07:24:04 AM
In the Little Rock, AR market in January, closings of new homes dropped year-over-year, a drop following an increase in December 2013. Closings sank 25.5% from a year earlier to 70. This followed a 6.7% hike year-over-year in December.
A total of 1,160 new homes were sold during the 12 months that ended in January, down from 1,184 for the year that ended in December.
Out of all housing closings, new home closings made up 9.4%. This is down from the a year earlier when new home closings accounted for 12.9% of total closings. Closings of new and existing homes jumped year-over-year in January after also rising in December year-over-year.
Pricing and Mortgage Trends
For newly sold homes, the average price rose 15.2% year-over-year in January to $227,453 per unit. This rise is higher than the 8.7% gain in December year-over-year.
The average mortgage size on new homes moved north year-over-year along with new home prices. In January 2014, the average mortgage size was $198,199, a 7.4% boost from a year earlier. In December 2013, average mortgage size gained 7.3% from a year earlier.