Recent Figures Show New Home Sales and Prices Climb in Redding
Posted on: Mar 06, 2014 07:35:25 AM
There was a rise in new home closings in the Redding, CA market in December year-over-year, rebounding from a year-over-year decline in November 2013. New home closings moved from 5 a year earlier to 6 after the figure moved from 6 in November 2012 to 4 in November 2013.
A total of 120 new homes were sold during the 12 months that ended in December, up from 119 for the year that ended in November.
6 of the 211 total closings were new home closings, a shift on a percentage basis from 5 out of 236 a year earlier. Closings of new and existing homes declined year-over-year in December after also falling in November year-over-year.
Pricing and Mortgage Trends
The average price of new homes rose to $281,667 from last year's $257,100. This followed a 45.7% gain in November year-over-year.
Average mortgage size on new homes moved from $230,227 to $231,560. Average mortgage size on new homes went from $203,562 in November 2012 to $226,528 in November 2013.