New Home Closings and Prices in Missoula Fall According to Newest Figures
Posted on: Jul 06, 2014 07:24:16 AM
New home closings in the Missoula, MT market dropped year-over-year in April, sliding after a growth in March 2014. New home closings moved from 5 a year earlier to 4 after the figure moved from 3 in March 2013 to 4 in March 2014.
A total of 46 new homes were sold during the 12 months that ended in April, down from 47 for the year that ended in March.
New home closings were 4 out of the 150 total closings, same on a percentage basis as a year earlier. Closings of new and existing homes sank year-over-year in April after also falling in March year-over-year.
Pricing and Mortgage Trends
The average new home price was $172,563, down from $265,524 a year earlier. This followed a 37.7% decline in March from a year earlier.
The average mortgage size moved to $157,128, down from last year's $212,419. Average mortgage size on new homes went from $243,594 in March 2013 to $129,955 in March 2014.