New Home Sales and Prices Decrease in Pittsburgh According to Newest Data
Posted on: Aug 08, 2014 11:42:23 AM
Closings of new homes in the Pittsburgh, PA market fell year-over-year in April, and the decline was by a larger percentage than the March 2014. New home closings moved from 116 a year earlier to 3 after the figure moved from 114 in March 2013 to 7 in March 2014.
A total of 846 new homes were sold during the 12 months that ended in April, down from 959 for the year that ended in March.
On a percentage basis, new home closings as a part of total closings decreased to 0.1% from 4.5% a year earlier. For new and existing homes, closings sank in April after also declining in March year-over-year.
Pricing and Mortgage Trends
The average per-unit price of new homes was $315,609, compared with $335,757 last year. This came after a 22.0% fall in March from a year earlier.
Average mortgage size on new homes went from $271,510 a year earlier to $310,750. Average mortgage size on new homes went from $273,037 in March 2013 to $183,101 in March 2014.