Latest Figures Show New Home Sales and Prices Drop in Redding
Posted on: Apr 06, 2014 07:35:13 AM
In January, the Redding, CA market saw a drop year-over-year in new home closings, falling after a rise in December 2013. New home closings moved from 5 a year earlier to 4 after the figure moved from 5 in December 2012 to 6 in December 2013.
A total of 119 new homes were sold during the 12 months that ended in January, down from 120 for the year that ended in December.
4 of the 158 total closings were new home closings, a shift on a percentage basis from 5 out of 219 a year earlier. Closings of new and existing homes fell year-over-year in January after also falling in December year-over-year.
Pricing and Mortgage Trends
The average value of newly sold homes in January 2014 was $257,750, down from last year's $263,400. This followed a 9.6% surge in December year-over-year.
Average mortgage size on new homes went from $193,800 a year earlier to $261,415. It went from $230,227 to $231,560 from December 2012 to December 2013.