New Homes Increase in Yuma, Sales Decrease - August 2014
Posted on: Aug 09, 2014 07:03:06 AM
Closings of new homes in the Yuma, AZ market sank year-over-year in May, but the decline was less than the year-over-year decline in April. New home closings moved from 35 a year earlier to 7 after the figure moved from 26 in April 2013 to 5 in April 2014.
A total of 216 new homes were sold during the 12 months that ended in May, down from 244 for the year that ended in April.
New home closings were 13.2% of total closings a year earlier, and this percentage saw a drop as new home closings this year made up 7 of the 180 total closings. Following a year-over-year decline in April, closings of new and existing homes also dropped year-over-year in May.
Pricing and Mortgage Trends
The average new home value went from $188,234 last year to $277,878. This came after a 18.8% fall in April from a year earlier.
Average mortgage size on new homes moved from $179,207 to $180,910. Average mortgage size on new homes went from $183,018 in April 2013 to $147,131 in April 2014.