New Home Closings and Prices in Redding Climb According to Latest Figures
Posted on: Nov 12, 2013 07:39:03 AM
In August, there was an increase in closings of new homes in the Redding, CA market year-over-year, but the increase was less than July 2013. New home closings moved from 10 a year earlier to 17 after the figure moved from 5 in July 2012 to 10 in July 2013.
A total of 97 new homes were sold during the 12 months that ended in August, up from 90 for the year that ended in July.
New home closings were 17 out of 279 total closings, making up 6.1%. This is up on a percentage basis from 10 of 280 a year earlier. Closings of new and existing homes remained steady in August after falling in July year-over-year.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $266,088 from $198,110 a year ago. This followed a 2.3% rise in July year-over-year.
Average mortgage size on new homes went from $175,390 a year earlier to $244,453. In July 2013, average mortgage size remained level from a year earlier at $230,173.