Latest Figures Show New Home Sales and Prices Fall in Akron
Posted on: Aug 08, 2014 11:05:33 AM
New home closings in the Akron, OH market dropped year-over-year in April, but the decline was less than the year-over-year decline in March. New home closings moved from 11 a year earlier to 2 after the figure moved from 13 in March 2013 to none in March 2014.
2 of the 948 total closings were new home closings, a shift on a percentage basis from 11 out of 1,046 a year earlier. Closings of new and existing homes dropped year-over-year in April after also falling in March year-over-year.
Pricing and Mortgage Trends
The average value of newly sold homes in April 2014 was $142,830, down from last year's $277,707. This was on the heels of a.
The average mortgage size went down to $114,000 from $227,749 a year earlier.
Other Market Trends
The share of new home closings made up by attached units has risen while the share belonging to single-family homes has fallen.