New Home Closings and Prices in Salinas Decline According to Recent Figures
Posted on: May 06, 2013 07:32:07 AM
In the Salinas, CA market in February, new home closings sank year-over-year, but the decline was less than the year-over-year decline in January. New home closings moved from seven a year earlier to two after the figure moved from five in January 2012 to one in January 2013.
A total of 62 new homes were sold during the 12 months that ended in February, down from 67 for the year that ended in January.
On a percentage basis, new home closings as a part of total closings decreased to 0.6% from 1.9% a year earlier. Following a year-over-year increase in January, closings of new and existing homes fell year-over-year in February.
The average per-unit price of new homes was $90,000, compared with $222,000 last year. This came after a 62.8% drop in January from a year earlier.
Other Market Trends
The share of new home closings made up by attached units has risen while the share belonging to single-family homes has fallen. Attached closings made up all of new home closings after accounting for five of seven a year earlier. Meanwhile, single-family homes made up no part of new home closings after making up two of seven a year earlier.