New Home Prices Gain in Ogden According to Newest Figures, Sales Decline
Posted on: Jul 06, 2014 07:26:51 AM
In the Ogden, UT market, closings of new homes slid year-over-year in April, and the percentage fall worsened from March 2014, indicating the market may be weakening. Closings declined 18.7% from a year earlier to 87. This was after the housing market saw a 15.8% decline year-over-year in March.
A total of 1,234 new homes were sold during the 12 months that ended in April, down from 1,254 for the year that ended in March.
New home closings represented 7.8% of overall housing closings. This is down from the 9.2% of closings a year earlier. Following a year-over-year increase in March, closings of new and existing homes declined year-over-year in April.
Pricing and Mortgage Trends
In April, the average value of new homes saw a 9.9% bump year-over-year as it grew to $335,224 per unit. This boost is an improvement over the 8.0% hike in March year-over-year.
In April 2014, average mortgage size on new homes went from $301,776 in April 2013 to $298,989 in April 2014. Average mortgage size jumped 5.5% in March 2014 from a year earlier.