Prices of New Homes Gain in Hanford, Sales Decline According to Latest Data
Posted on: Aug 08, 2014 11:25:21 AM
In the Hanford, CA market, new home closings slid year-over-year in May, dropping after a year-over-year increase in April 2014. New home closings moved from 17 a year earlier to 16 after the figure moved from 9 in April 2013 to 11 in April 2014.
A total of 196 new homes were sold during the 12 months that ended in May, down from 197 for the year that ended in April.
Out of all housing closings, new home closings represented 11.6%. New home closings were 10.6% of overall closings last year. Following a year-over-year rise in April, closings of new and existing homes fell year-over-year in May.
Pricing and Mortgage Trends
The average price of new homes increased year-over-year in May to $239,313 per unit, a rise of 3.6%. This rise is better than the 2.9% lift in April year-over-year.
In May 2014, average mortgage size on new homes went from $220,178 in May 2013 to $221,974 in May 2014. Average mortgage size on new homes went from $231,232 in April 2013 to $209,938 in April 2014.