Newest Figures Show New Home Sales and Prices Gain in Oklahoma City
Posted on: Nov 12, 2013 07:34:36 AM
Closings of new homes in the Oklahoma City, OK market increased year-over-year in July, and there were suggestions that the market may be gaining momentum as the percentage bump proved better than June 2013. There was a 30.2% hike in new home closings from a year earlier. This followed a 25.5% jump year-over-year in June.
A total of 3,845 new homes were sold during the 12 months that ended in July, up from 3,754 for the year that ended in June.
Out of all housing closings, new home closings made up 14.2%. This is a gain from 12.7% of closings a year earlier. For new and existing homes, closings gained year-over-year in July after also increasing in June year-over-year.
Pricing and Mortgage Trends
Average price of newly sold homes saw a 6.2% bump year-over-year in July to $235,850 per unit. This rise is higher than the 4.3% gain in June year-over-year.
Average mortgage size on new homes saw a drop year-over-year in contrast to prices of new homes. The average mortgage size declined to $202,657 in July, marking a 2.0% fall compared with last year. In June 2013, average mortgage size grew 5.5% from a year earlier.