Freshest Numbers Show Prices of New Homes Gain in Eugene, Sales Drop
Posted on: Jul 06, 2014 07:11:31 AM
In April, the Eugene, OR market saw a decline year-over-year in new home closings, and with a percentage drop steeper than March 2014, there were suggestions the market may be worsening. New home closings saw a fall of 20.8% from the year earlier to 19. This followed a 10.5% fall year-over-year in March.
A total of 220 new homes were sold during the 12 months that ended in April, down from 225 for the year that ended in March.
New home closings made up 4.9% of overall housing closings. This is a decline 5.9% of closings a year earlier. For new and existing homes, closings dropped in April after also declining in March year-over-year.
Pricing and Mortgage Trends
The average price of new homes grew year-over-year in April to $253,152 per unit, a rise of 6.1%. This rise is smaller than the 47.1% gain in March year-over-year.
The average mortgage size on newly sold homes moved south year-over-year in contrast to new home prices. In April 2014, there was a 4.7% drop in the average mortgage size on new homes to $201,208. Average mortgage size gained 39.3% in March 2014 from a year earlier.