Latest Numbers Show New Home Closings Climb in Youngstown, Prices Decline
Posted on: Apr 06, 2014 07:47:04 AM
In December, closings of new homes climbed year-over-year in the Youngstown, OH market, but the increase was less than November 2013. New home closings moved from 5 a year earlier to 8 after the figure moved from 5 in November 2012 to 9 in November 2013.
A total of 65 new homes were sold during the 12 months that ended in December, up from 62 for the year that ended in November.
New home closings were 8 out of the 453 total closings, a move on a percentage basis from 5 of 638 a year earlier. Following a year-over-year decline in November, closings of new and existing homes also sank year-over-year in December.
Pricing and Mortgage Trends
The average value of newly sold homes in December 2013 was $134,625, down from last year's $264,047. This followed a 71.2% hike in November year-over-year.
Average mortgage size on new homes fell from $277,600 to $126,218. Average mortgage size on new homes went from $130,000 in November 2012 to $224,425 in November 2013.