Recent Numbers Show Prices of New Homes Increase in Altoona, Sales Fall
Posted on: Apr 06, 2014 07:01:10 AM
In the Altoona, PA market in December, new home closings sank year-over-year, but the decline was less than the year-over-year decline in November. New home closings moved from 5 a year earlier to 2 after the figure moved from 3 in November 2012 to none in November 2013.
New home closings were 5.0% of total closings a year earlier, and this percentage saw a decline as new home closings this year made up 2 of the 112 total closings. Following a year-over-year increase in November, closings of new and existing homes also rose year-over-year in December.
Pricing and Mortgage Trends
The average new home price was $294,434, up from $242,554 a year earlier. This was on the heels of a.
Average mortgage size on new homes rose from $208,233 to $235,548.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in December 2013.