New Home Closings and Prices in Yuma Climb According to Freshest Figures
Posted on: Mar 06, 2014 07:47:31 AM
There was an increase in closings of new homes in the Yuma, AZ market in December year-over-year, but there were signs the market may be evening out with a percentage rise shallower than November 2013. New home closings saw a jump of 12.5% from the year earlier to 18. This came after a 35.3% boost year-over-year in November.
A total of 326 new homes were sold during the 12 months that ended in December, up from 324 for the year that ended in November.
Of 185 total closings, 18 were of new homes. This is better than the 7.7% of closings a year earlier. Following a year-over-year decline in November, closings of new and existing homes also fell year-over-year in December.
Pricing and Mortgage Trends
The average price of new homes was $188,009 per unit in December, up 17.5%from a year earlier. This surge compares to a 8.3% decline in November from a year earlier.
The average mortgage size on new homes moved north year-over-year along with new home prices. In December 2013, the average mortgage size on newly sold homes saw a 16.9% bump from a year earlier. In November 2013, average mortgage size on newly sold homes saw a 8.7% fall from a year earlier.