New Home Sales and Prices Decrease in Jackson According to Recent Data
Posted on: Jul 06, 2014 07:17:00 AM
In April, there was a drop year-over-year in new home closings in the Jackson, MS market, moving downward after a gain in March 2014. There was a 30.0% drop in new home closings from a year earlier. In comparison, new home closings in the same month last year saw a 13.8% rise year-over-year in March.
A total of 280 new homes were sold during the 12 months that ended in April, down from 289 for the year that ended in March.
Out of all housing closings, new home closings represented 16.3%. This is a boost from 14.6% of closings a year earlier. After rising year-over-year in March, closings of new and existing homes declined year-over-year in April.
Pricing and Mortgage Trends
The average price of newly sold homes sank 9.5% year-over-year in April to $259,174 per unit. This decline compares to a 4.3% hike in March year-over-year.
The average mortgage size on newly sold was $237,532, staying level in April from a year earlier. Average mortgage size gained 4.3% in March 2014 from a year earlier.