New Home Closings and Prices in Saginaw Fall According to Newest Figures
Posted on: Jul 06, 2014 07:31:45 AM
In April, the Saginaw, MI market saw a fall year-over-year in new home closings, declining after staying relatively stable in March from the year earlier. Closings stood at 5 in April after being 8 a year earlier and remaining unchanged at 3 in March from a year earlier.
A total of 42 new homes were sold during the 12 months that ended in April, down from 45 for the year that ended in March.
New home closings were 5 out of the 271 total closings, a move on a percentage basis from 8 of 306 a year earlier. Closings of new and existing homes declined year-over-year in April after also falling in March year-over-year.
Pricing and Mortgage Trends
The average per-unit price of new homes was $144,180, compared with $170,963 last year. This followed a 25.2% hike in March year-over-year.
Average mortgage size on new homes increased to $176,839 from $146,859 last year. Average mortgage size on new homes went from $191,493 in March 2013 to $162,898 in March 2014.