Latest Numbers Indicate New Home Closings and Prices Drop in Youngstown
Posted on: Nov 12, 2013 07:53:35 AM
In the Youngstown, OH market, new home closings sank year-over-year in July, sliding after a growth in June 2013. New home closings moved from 8 a year earlier to 4 after the figure moved from none in June 2012 to 4 in June 2013.
A total of 57 new homes were sold during the 12 months that ended in July, down from 61 for the year that ended in June.
4 of the 562 total closings were new home closings, a shift on a percentage basis from 8 out of 599 a year earlier. After rising year-over-year in June, closings of new and existing homes dropped year-over-year in July.
Pricing and Mortgage Trends
The average per-unit price of new homes was $125,100, compared with $171,763 last year. This followed a shift to an average price of $101,575 in June 2013 after there were no closings in June 2012.
There was a decline in average mortgage size on new homes, going from $123,966 last year to $101,400 in July 2013.