New Home Sales Remain Level in Shreveport, Prices Fall According to Latest Data
Posted on: Feb 12, 2014 07:20:28 AM
New home closings in the Shreveport, LA market stayed the same year-over-year in November, evening out after a decline in October from the year earlier. Closings were unchanged from last year at 30. Closings saw a 39.0% drop in the same month last year.
A total of 401 new homes were sold during the 12 months that ended in November, equal to the number of new homes sold for the year that ended in October.
Out of all housing closings, new home closings represented 8.1%. This is better than the 5.9% of closings a year earlier. For new and existing homes, closings fell in November after also declining in October year-over-year.
Pricing and Mortgage Trends
In November, the average price of newly sold homes sank year-over-year to $255,025 per unit, marking a 1.2% fall from the year-earlier figure. This decline is a drop off from the 9.7% drop in October from a year earlier.
For newly sold homes, the average mortgage size slid year-over-year in contrast to average price of new homes. In November 2013, average mortgage size on new homes sold was $214,313, down 7.4% from a year earlier. In October 2013, average mortgage size on newly sold homes saw a 2.7% lift year-over-year from a year earlier.