New Home Sales and Prices Fall in Elkhart According to Latest Data
Posted on: Jul 06, 2014 07:11:13 AM
Closings of new homes slid year-over-year in April in the Elkhart, IN market, and the decline was by a larger percentage than the March 2014. New home closings moved from 8 a year earlier to 2 after the figure moved from 13 in March 2013 to 5 in March 2014.
A total of 107 new homes were sold during the 12 months that ended in April, down from 113 for the year that ended in March.
Last year, 8 of 387 total closings were new homes, and this percentage saw a decline as new home closings this year made up 2 of the 282 total closings. For new and existing homes, closings declined in April after also declining in March year-over-year.
Pricing and Mortgage Trends
The average new home price was $220,506, down from $246,863 a year earlier. This came after a 47.6% drop in March from a year earlier.
Average mortgage size on new homes fell from $197,490 to $176,365. Average mortgage size on new homes went from $261,575 in March 2013 to $144,996 in March 2014.