Prices of New Homes Rise in Shreveport, Sales Drop According to Recent Data
Posted on: Dec 06, 2013 07:44:14 AM
In September, there was a drop year-over-year in new home closings in the Shreveport, LA market, and the market seemed to be worsening in light of the percentage drop steeper than August 2013. New home closings saw a decline of 58.5% from the year earlier to 17. This was after the housing market saw a 35.2% fall year-over-year in August.
A total of 417 new homes were sold during the 12 months that ended in September, down from 441 for the year that ended in August.
New home closings accounted for 4.1% of overall housing closings. This is down from the a year earlier when new home closings represented 7.4% of total closings. For new and existing homes, closings declined in September after also declining in August year-over-year.
Pricing and Mortgage Trends
In September, the average value of new homes saw a 9.5% lift year-over-year as it grew to $269,576 per unit. This gain is higher than the 5.2% bump in August year-over-year.
For newly sold homes, average mortgage size moved from $227,662 in September 2012 to $228,032 in September 2013. In August 2013, average mortgage size on newly sold homes saw a 7.3% rise year-over-year from a year earlier.