Newest Figures Show New Home Sales and Prices Drop in Cheyenne
Posted on: Aug 08, 2014 11:14:01 AM
In the Cheyenne, WY market in May, closings of new homes fell year-over-year, but the decline was less than the year-over-year decline in April. New home closings moved from 3 a year earlier to 1 after the figure moved from 11 in April 2013 to 3 in April 2014.
1 of the 219 total closings were new home closings, a shift on a percentage basis from 3 out of 223 a year earlier. For new and existing homes, closings sank in May after also declining in April year-over-year.
Pricing and Mortgage Trends
The average new home price was $216,191, down from $386,185 a year earlier. This was on the heels of a 21.9% gain in April year-over-year.
Average mortgage size on new homes fell from $327,323 to $214,051. Average mortgage size on new homes went from $221,362 in April 2013 to $270,515 in April 2014.
Other Market Trends
The share of new home closings made up by attached units has risen while the share belonging to single-family homes has fallen.