New Home Closings and Prices in Tucson Fall According to Latest Figures
Posted on: Jul 06, 2014 07:37:20 AM
In the Tucson, AZ market, closings of new homes declined year-over-year in April, but there were hints of market improvement with a percentage decline less steep than in March 2014. Closings dropped 63.1% from a year earlier to 58. This came after a 63.5% drop year-over-year in March.
A total of 1,135 new homes were sold during the 12 months that ended in April, down from 1,234 for the year that ended in March.
Out of all housing closings, new home closings made up 3.1%. This is a drop 8.0% of closings a year earlier. Closings of new and existing homes dropped year-over-year in April after also falling in March year-over-year.
Pricing and Mortgage Trends
In April, the average per-unit price of new homes dropped by 1.3% year-over-year to $251,977. This drop is a drop off from the 6.9% fall in March from a year earlier.
For newly sold homes, the average mortgage size declined year-over-year in contrast to average price of new homes. It fell to $208,870 in April, a 8.2% fall. It went from $222,381 to $223,727 from March 2013 to March 2014.