Recent Figures Show New Home Prices Increase, Sales Drop in Pocatello
Posted on: Jul 06, 2014 07:28:44 AM
Closings of new homes fell year-over-year in April in the Pocatello, ID market, a decline following a rise in March 2014. New home closings moved from 8 a year earlier to 3 after the figure moved from 2 in March 2013 to 4 in March 2014.
A total of 40 new homes were sold during the 12 months that ended in April, down from 45 for the year that ended in March.
Last year, 8 of 166 total closings were new homes, and this percentage saw a decline as new home closings this year made up 3 of the 124 total closings. Following a year-over-year rise in March, closings of new and existing homes dropped year-over-year in April.
Pricing and Mortgage Trends
The average price of new homes was $290,333, an increase from $221,931 a year earlier. This followed a 33.9% fall in March from a year earlier.
Average mortgage size on new homes went from $191,120 a year earlier to $243,653. Average mortgage size on new homes went from $250,148 in March 2013 to $159,381 in March 2014.