Newest Figures Show New Home Sales Increase in Visalia, Prices Decline
Posted on: Apr 06, 2014 07:44:46 AM
In January, there was an increase in closings of new homes in the Visalia, CA market year-over-year, on an upswing after a fall in December 2013. New home closings saw a jump of 8.8% from the year earlier to 37. This came on the heels of a 29.9% decline year-over-year in December.
A total of 522 new homes were sold during the 12 months that ended in January, up from 519 for the year that ended in December.
Of 332 total closings, 37 were of new homes. This is better than the 6.0% of closings a year earlier. For new and existing homes, closings sank in January after also declining in December year-over-year.
Pricing and Mortgage Trends
Average price of newly sold homes had a 3.5% drop year-over-year to $207,591 per unit in January. This decline is a drop off from the 3.8% fall in December from a year earlier.
For newly sold homes, the average mortgage size saw a decline year-over-year in contrast to new home prices. It sank 1.3% in January from a year earlier, reaching $200,724. In December 2013, average mortgage size on newly sold homes saw a 4.3% bump year-over-year from a year earlier.