New Home Sales and Prices Fall in Grand Junction According to Latest Data
Posted on: Aug 08, 2014 11:23:44 AM
In May, the Grand Junction, CO market saw a drop year-over-year in new home closings, but the decline was less than the year-over-year decline in April. New home closings moved from 6 a year earlier to 1 after the figure moved from 14 in April 2013 to 2 in April 2014.
New home closings represented 1 out of the 303 total closings, which is a smaller percentage than the 6 of 361 total closings a year earlier. Closings of new and existing homes slid year-over-year in May after also falling in April year-over-year.
Pricing and Mortgage Trends
The average new home price was $229,900, down from $259,583 a year earlier. This was on the heels of a 39.8% drop in April from a year earlier.
Average mortgage size on new homes fell from $225,300 to $129,900. Average mortgage size on new homes went from $247,475 in April 2013 to $154,916 in April 2014.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in May 2014.