New Home Sales Increase in Kennewick According to Latest Data
Posted on: Mar 06, 2014 07:21:18 AM
New home closings grew year-over-year in December in the Kennewick, WA market, and there were signals of strengthening market conditions as the percentage bump was sharper than November 2013. New home closings saw a climb of 72.9% from the year earlier to 83. This was after the housing market saw a 53.2% jump year-over-year in November.
A total of 819 new homes were sold during the 12 months that ended in December, up from 784 for the year that ended in November.
Of 375 total closings, 83 were of new homes. This is an increase on a percentage basis, as new home closings were 16.6% of total closings a year ago. For new and existing homes, closings jumped year-over-year in December after also increasing in November year-over-year.
Pricing and Mortgage Trends
For newly sold homes, the average price moved from $256,057 in December 2012 to $254,141 in December 2013. This was on the heels of a 10.4% decline in November from a year earlier.
For newly sold homes, average mortgage size stayed level year-over-year in December, staying at $227,419. Average mortgage size went from $222,932 in November 2012 to $221,309 in November 2013.