Latest Numbers Indicate New Home Closings and Prices Fall in York
Posted on: Aug 08, 2014 11:57:48 AM
In the York, PA market, new home closings fell year-over-year in April, and the decline was by a larger percentage than the March 2014. New home closings moved from 43 a year earlier to 7 after the figure moved from 28 in March 2013 to 27 in March 2014.
A total of 352 new homes were sold during the 12 months that ended in April, down from 388 for the year that ended in March.
New home closings were 7 out of the 582 total closings, down on a percentage basis from 43 of 622 a year earlier. Following a year-over-year decline in March, closings of new and existing homes also slid year-over-year in April.
Pricing and Mortgage Trends
The average new home price was $228,664, down from $239,779 a year earlier. This came after a 8.8% fall in March from a year earlier.
The average mortgage size went down to $195,730 from $227,250 a year earlier. In March 2014, average mortgage size on newly sold homes saw a 13.2% drop from a year earlier.