Freshest Figures Show New Home Sales and Prices Rise in Redding
Posted on: May 06, 2013 07:30:35 AM
The Redding, CA market saw a rise in new home closings in February year-over-year, increasing after staying level in January. Closings stood at 11 in February after being seven a year earlier and remaining unchanged at three in January from a year earlier.
A total of 64 new homes were sold during the 12 months that ended in February, up from 60 for the year that ended in January.
New home closings were 11 of the 230 total closings, up on a percentage basis from seven of 253 a year earlier. Following a year-over-year decline in January, closings of new and existing homes also fell year-over-year in February.
Pricing and Mortgage Trends
The average new home price in February 2013 went up to $269,818 from $261,286 a year ago. This followed a 27.4% decline in January from a year earlier.
Average mortgage size on new homes rose from $178,515 to $238,391. Average mortgage size on new homes went from $299,995 in January 2012 to $193,800 in January 2013.