New Home Sales and Prices Both Climb in Hanford According to Newest Data
Posted on: Nov 12, 2013 07:19:00 AM
In August, there was an increase in closings of new homes in the Hanford, CA market year-over-year, but the increase was less than July 2013. New home closings moved from 18 a year earlier to 24 after the figure moved from 10 in July 2012 to 19 in July 2013.
A total of 210 new homes were sold during the 12 months that ended in August, up from 204 for the year that ended in July.
Out of all housing closings, new home closings made up 17.1%. This marks a rise from 10.8% of total closings a year earlier. Following a year-over-year decline in July, closings of new and existing homes also slid year-over-year in August.
Pricing and Mortgage Trends
The average per-unit price of newly sold homes jumped year-over-year to $218,900 in August, up 2.7% from last year. This bump is smaller than the 9.2% lift in July year-over-year.
There was a rise year-over-year in the average mortgage size on new homes along with new home prices. In August 2013, the average mortgage size on newly sold homes saw a 5.1% boost from a year earlier. Average mortgage size on new homes went from $212,013 in July 2012 to $203,193 in July 2013.