New Home Sales and Prices Drop in Rochester According to Freshest Data
Posted on: Aug 08, 2014 11:45:33 AM
In the Rochester, NY market in April, new home closings dropped year-over-year, but the decline was less than the year-over-year decline in March. New home closings moved from 34 a year earlier to 5 after the figure moved from 41 in March 2013 to 6 in March 2014.
A total of 149 new homes were sold during the 12 months that ended in April, down from 178 for the year that ended in March.
New home closings were 5 out of the 867 total closings, down on a percentage basis from 34 of 979 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
The average new home price was $131,200, down from $263,731 a year earlier. This came after a 12.1% gain in March year-over-year.
There was a decline in average mortgage size on new homes, going from $217,968 last year to $81,289 in April 2014. Average mortgage size on new homes went from $211,849 in March 2013 to $234,401 in March 2014.