New Home Closings and Prices Decrease in Harrisburg - August 2014
Posted on: Aug 09, 2014 07:00:47 AM
The Harrisburg, CA market saw a drop in new home closings year-over-year in May, and the decline was by a larger percentage than the April 2014. New home closings moved from 84 a year earlier to 8 after the figure moved from 50 in April 2013 to 19 in April 2014.
A total of 440 new homes were sold during the 12 months that ended in May, down from 516 for the year that ended in April.
On a percentage basis, new home closings as a part of total closings decreased to 1.4% from 12.6% a year earlier. For new and existing homes, closings declined in May after also declining in April year-over-year.
Pricing and Mortgage Trends
The average new home price was $203,061, down from $299,270 a year earlier. This was on the heels of a 18.5% fall in April from a year earlier.
The average mortgage size moved to $170,166, down from last year's $236,622. In April 2014, average mortgage size slid 1.6% from a year earlier.