New Home Prices Rise in Reading According to Recent Figures, Sales Decrease
Posted on: Apr 06, 2014 07:35:03 AM
In December, there was a fall year-over-year in new home closings in the Reading, PA market, but the decline was less than the year-over-year decline in November. New home closings moved from 13 a year earlier to 12 after the figure moved from 20 in November 2012 to 18 in November 2013.
A total of 219 new homes were sold during the 12 months that ended in December, down from 220 for the year that ended in November.
New home closings were 12 out of the 409 total closings, a move on a percentage basis from 13 of 586 a year earlier. Following a year-over-year decline in November, closings of new and existing homes also slid year-over-year in December.
Pricing and Mortgage Trends
The average new home price was $200,860, up from $196,053 a year earlier. This followed a 13.9% surge in November year-over-year.
Average mortgage size on new homes rose from $196,978 to $204,983. Average mortgage size rose 33.5% in November 2013 from a year earlier.