New Home Sales and Prices Drop in Harrisburg According to Recent Data
Posted on: Jul 06, 2014 07:15:14 AM
In the Harrisburg, CA market, new home closings sank year-over-year in April, but the percentage decline was not as steep as March 2014, giving suggestion that the market may be leveling out. New home closings saw a 29.0% decline from a year earlier to 44. In comparison, new home closings in the same month last year saw a 37.7% drop year-over-year in March.
A total of 778 new homes were sold during the 12 months that ended in April, down from 796 for the year that ended in March.
Out of all housing closings, new home closings made up 7.9%. This is a decline 9.9% of closings a year earlier. Closings of new and existing homes fell year-over-year in April after also falling in March year-over-year.
Pricing and Mortgage Trends
In April, the average per-unit price of new homes sank by 9.7% year-over-year to $276,445. This drop follows a move from $281,966 per unit in March 2013 to $283,679 in March 2014.
The average mortgage size on newly sold homes saw a drop year-over-year in contrast to new home prices. It sank to $233,616 in April, a 22.2% drop. In March 2014, average mortgage size on newly sold homes saw a 3.0% drop from a year earlier.