New Home Sales and Prices Fall in Tulsa According to Newest Data
Posted on: May 06, 2013 07:37:25 AM
In the Tulsa, OK market in January, new home closings sank year-over-year, moving downward after a rise in December 2012. New home closings saw a 10.3% drop from a year earlier to 70. This followed a 12.7% jump year-over-year in December.
A total of 1,384 new homes were sold during the 12 months that ended in January, down from 1,392 for the year that ended in December.
New home closings represented 7.2% of overall housing closings, less than the 8.7% of closings a year earlier. Following a decline in December year-over-year, closings of new and existing homes rose year-over-year in January.
Pricing and Mortgage Trends
For newly sold homes, the average price fell 3.6% year-over-year in January to $239,121 per unit. This is a downward shift from the 12.2% bump in December year-over-year.
For newly sold homes, the average mortgage size saw a rise year-over-year in contrast to new home prices. In January 2013, average mortgage size increased 8.4% from a year earlier to $223,517. Average mortgage size rose 10.1% in December 2012 from a year earlier. The overall percentage of sale price that was being financed jumped 10.3 percentage points year-over-year to 93.5% in January 2013. This came after a 1.7 percentage point decline in December from a year earlier.