Latest Numbers Show New Home Closings Climb in Tulsa, Prices Decrease
Posted on: Apr 06, 2014 07:43:39 AM
In the Tulsa, OK market, closings of new homes jumped year-over-year in December, but the market seemed to be suggesting at stabilizing with a percentage surge less pronounced than November 2013. Closings gained 16.8% from a year earlier to 160. In comparison, new home closings in the same month last year saw a 16.8% climb year-over-year in November.
A total of 1,709 new homes were sold during the 12 months that ended in December, up from 1,686 for the year that ended in November.
As a percentage of total closings, new home closings made up 11.3%, unchanged from a year ago. Following a year-over-year increase in November, closings of new and existing homes also increased year-over-year in December.
Pricing and Mortgage Trends
The average price of new homes fell by 2.1% year-over-year to $245,888 per unit in December. This fall compares to a 3.0% hike in November year-over-year.
Average mortgage size on new homes went from $217,639 in December 2012 to $219,090 in December 2013. Average mortgage size rose 2.1% in November 2013 from a year earlier.