New Home Prices Rise, Sales Decline in Muskegon - July 2014
Posted on: Jul 08, 2014 07:02:18 AM
Closings of new homes slid year-over-year in April in the Muskegon, MI market, falling after a rise in March 2014. New home closings moved from 6 a year earlier to 5 after the figure moved from 1 in March 2013 to 2 in March 2014.
A total of 24 new homes were sold during the 12 months that ended in April, down from 25 for the year that ended in March.
New home closings were 5 out of the 149 total closings, a move on a percentage basis from 6 of 202 a year earlier. For new and existing homes, closings slid in April after also declining in March year-over-year.
Pricing and Mortgage Trends
The average price of new homes was $189,880, an increase from $160,206 a year earlier. This was on the heels of a more than threefold bump in March year-over-year.
Average mortgage size on new homes rose from $106,181 to $162,115.