Recent Figures Show New Home Sales and Prices Rise in Hanford
Posted on: Jul 06, 2014 07:15:06 AM
In April, closings of new homes increased year-over-year in the Hanford, CA market, but the increase was less than March 2014. New home closings moved from 9 a year earlier to 11 after the figure moved from 19 in March 2013 to 24 in March 2014.
A total of 198 new homes were sold during the 12 months that ended in April, up from 196 for the year that ended in March.
New home closings were 11 out of 125 total closings, making up 8.8%. This is up on a percentage basis from 9 of 122 a year earlier. Following a fall in March year-over-year, closings of new and existing homes gained year-over-year in April.
Pricing and Mortgage Trends
The average price of new homes was $237,655, an increase from $230,944 a year earlier. This came after a 7.4% boost in March year-over-year.
Average mortgage size on newly sold homes saw a decline year-over-year from $231,232 to $209,938. In March 2014, average mortgage size on newly sold homes saw a 18.0% rise year-over-year from a year earlier.