New Home Closings in El Centro Rise, Prices Drop According to Recent Figures
Posted on: Jul 06, 2014 07:10:49 AM
In the El Centro, CA market, closings of new homes climbed year-over-year in April, rebounding from a year-over-year decline in March 2014. New home closings moved from 6 a year earlier to 15 after the figure moved from 19 in March 2013 to 10 in March 2014.
A total of 176 new homes were sold during the 12 months that ended in April, up from 167 for the year that ended in March.
New home closings were 15 of the 119 total closings, up on a percentage basis from 6 of 152 a year earlier. Closings of new and existing homes sank year-over-year in April after also falling in March year-over-year.
Pricing and Mortgage Trends
The average per-unit price of new homes was $212,267, compared with $227,583 last year. This followed a 3.0% surge in March year-over-year.
Average mortgage size on new homes fell from $224,702 to $208,550. Average mortgage size on new homes went from $192,743 in March 2013 to $218,481 in March 2014.