New Home Closings and Prices in Redding Increase According to Recent Figures
Posted on: Jul 06, 2014 07:30:24 AM
The Redding, CA market saw an increase in closings of new homes in April year-over-year, rebounding from a year-over-year decline in March 2014. New home closings moved from 7 a year earlier to 13 after the figure moved from 12 in March 2013 to 8 in March 2014.
A total of 122 new homes were sold during the 12 months that ended in April, up from 116 for the year that ended in March.
New home closings were 13 out of 235 total closings, making up 5.5%. This is up on a percentage basis from 7 of 263 a year earlier. Following a year-over-year decline in March, closings of new and existing homes also sank year-over-year in April.
Pricing and Mortgage Trends
The average price of new homes was $276,885, an increase from $237,857 a year earlier. This was on the heels of a 24.7% gain in March year-over-year.
The average mortgage size on new homes was $248,300, up from $226,875. Average mortgage size on new homes went from $179,335 in March 2013 to $228,272 in March 2014.