New Home Prices Climb in Reading According to Recent Figures, Sales Fall
Posted on: May 06, 2013 07:30:26 AM
New home closings slid year-over-year in January in the Reading, PA market, sliding after a growth in December 2012. New home closings moved from 12 a year earlier to eight after the figure moved from 11 in December 2011 to 14 in December 2012.
A total of 284 new homes were sold during the 12 months that ended in January, down from 288 for the year that ended in December.
New home closings accounted for eight of the 312 total closings, a smaller percentage compared with 12 of 213 closings a year earlier. Following a year-over-year increase in December, closings of new and existing homes also grew year-over-year in January.
Pricing and Mortgage Trends
The average new home price was $249,822 in January 2013, moving north from $145,327 a year earlier. This came after a 37.7% decline in December from a year earlier.
The average mortgage size on new homes was $212,660, up from $59,888. Average mortgage size on new homes went from $209,573 in December 2011 to $167,389 in December 2012.