New Home Closings and Prices in Yuma Drop According to Latest Figures
Posted on: May 06, 2013 07:40:54 AM
In the Yuma, AZ market in February, closings of new homes dropped year-over-year, dropping after a year-over-year increase in January 2013. New home closings moved from 23 a year earlier to 11 after the figure moved from 11 in January 2012 to 14 in January 2013.
A total of 228 new homes were sold during the 12 months that ended in February, down from 240 for the year that ended in January.
Out of 186 total closings, 11 were of new homes, which makes up a smaller percentage than the 23 out of 256 total closings last year. Following a year-over-year increase in January, closings of new and existing homes slid year-over-year in February.
Pricing and Mortgage Trends
The average new home price in February 2013 went down to $162,645 from $176,405 last year. This followed a 22.0% boost in January year-over-year.
There was a decline in average mortgage size on new homes, going from $173,177 last year to $165,442 in February 2013. Average mortgage size on new homes went from $190,991 in January 2012 to $197,163 in January 2013.