Builders closed over 500 new homes sales las month. That’s up 27% from last years numbers.
The average sales price for last month’s closings were $329,574, up 6.6 % from a year earlier. Builders also pulled over 600 new home permits in January, up 22 %.
Interest rates on a 30-year mortgage had recently reached 4.35%. Higher rates will lower borrowers purchasing power, potentially scaring off possible buyers, rates climbed nationally after Donald Trump won the presidential election in November. In the past few weeks rates have come down slightly now that the hype of the election is over.
Here are the overall number for 2016: Builders closed almost 8,000 new home sales in Clark County, That’s up 17 % from 2015.