New Home Closings and Prices in Yuma Drop According to Freshest Figures
Posted on: Apr 06, 2014 07:47:25 AM
The Yuma, AZ market saw a drop in new home closings year-over-year in January, a move downward following a bump in December 2013. New home closings saw a fall of 5.6% from the year earlier to 17. In comparison, new home closings in the same month last year saw a 31.2% rise year-over-year in December.
A total of 341 new homes were sold during the 12 months that ended in January, down from 342 for the year that ended in December.
New home closings accounted for 10.3% of overall housing closings. This is a hike from 7.4% of closings a year earlier. Following a year-over-year decline in December, closings of new and existing homes also slid year-over-year in January.
Pricing and Mortgage Trends
In January, there was a 9.7% fall year-over-year in the average per-unit price of newly sold homes, settling at $196,134. This decline compares to a 16.4% gain in December year-over-year.
The average mortgage size on new homes moved north year-over-year in contrast to new home prices. In January 2014, the average mortgage size on newly sold homes saw a 2.0% boost from a year earlier. In December 2013, average mortgage size on newly sold homes saw a 16.5% lift year-over-year from a year earlier.