Prices of New Homes Rise in Oklahoma City, Sales Drop According to Newest Data
Posted on: Apr 06, 2014 07:31:07 AM
Closings of new homes slid year-over-year in December in the Oklahoma City, OK market, but there were hints the market may be leveling out from a percentage fall less than November 2013. Closings declined 3.5% from a year earlier to 334. This came after a 4.6% drop year-over-year in November.
A total of 4,023 new homes were sold during the 12 months that ended in December, down from 4,035 for the year that ended in November.
Out of all housing closings, new home closings accounted for 16.0%. This is a drop 18.3% of closings a year earlier. Closings of new and existing homes climbed year-over-year in December following a decline in November year-over-year.
Pricing and Mortgage Trends
In December, the average price of newly sold homes gained 8.0% year-over-year to $249,361 per unit. This surge is smaller than the 8.4% lift in November year-over-year.
The average mortgage size on newly sold homes saw a boost year-over-year along with new home prices. In December 2013, average mortgage size gained 4.3% from a year earlier to $214,586. Average mortgage size increased 5.1% in November 2013 from a year earlier.