Prices of New Homes Increase in Pocatello, Sales Drop According to Recent Data
Posted on: Apr 06, 2014 07:33:16 AM
New home closings sank year-over-year in January in the Pocatello, ID market, but the decline was less than the year-over-year decline in December. New home closings moved from 3 a year earlier to 2 after the figure moved from 5 in December 2012 to 1 in December 2013.
A total of 47 new homes were sold during the 12 months that ended in January, down from 48 for the year that ended in December.
New home closings were 2 out of the 83 total closings, a move on a percentage basis from 3 of 95 a year earlier. For new and existing homes, closings slid in January after also declining in December year-over-year.
Pricing and Mortgage Trends
The average price of new homes rose to $202,287 from last year's $123,833. This followed a 9.7% decline in December from a year earlier.
Average mortgage size on new homes rose from $110,321 to $186,958. Average mortgage size on new homes went from $195,279 in December 2012 to $166,481 in December 2013.