New Home Sales Gain in Tulsa, Prices Decrease According to Newest Data
Posted on: Aug 08, 2014 11:54:02 AM
In April, closings of new homes grew year-over-year in the Tulsa, OK market, bouncing back from a fall in March 2014. Closings climbed 21.5% from a year earlier to 130. This came after a 27.2% drop year-over-year in March.
A total of 1,437 new homes were sold during the 12 months that ended in April, up from 1,414 for the year that ended in March.
Of 1,604 total closings, 130 were of new homes. This is a hike from 6.2% of closings a year earlier. Closings of new and existing homes declined year-over-year in April after also falling in March year-over-year.
Pricing and Mortgage Trends
The average price of new homes sank by 4.4% year-over-year to $241,036 per unit in April. This fall compares to a 3.1% boost in March year-over-year.
For newly sold homes, the average mortgage size saw a drop year-over-year in contrast to new home prices. In April 2014, the average mortgage size on newly sold homes saw a 6.1% drop from a year earlier. In March 2014, average mortgage size rose 8.0% from a year earlier.