New Home Sales and Prices Both Climb in Visalia According to Latest Data
Posted on: Dec 06, 2013 07:49:08 AM
In September, closings of new homes in the Visalia, CA market gained year-over-year, moving north after a drop in August 2013. There was a 23.7% rise in new home closings from a year earlier. This came after a 37.7% drop year-over-year in August.
A total of 486 new homes were sold during the 12 months that ended in September, up from 477 for the year that ended in August.
New home closings accounted for 9.1% of overall housing closings. This is better than the 7.1% of closings a year earlier. Closings of new and existing homes sank year-over-year in September after also falling in August year-over-year.
Pricing and Mortgage Trends
The average price of new homes climbed year-over-year in September to $236,864 per unit, a rise of 12.0%. This bump is an improvement over the 3.3% gain in August year-over-year.
The average mortgage size on newly sold homes climbed year-over-year along with the average price of new homes. In September 2013, the average mortgage size on newly sold homes saw a 11.5% lift from a year earlier. In August 2013, average mortgage size on newly sold homes saw a 4.6% boost year-over-year from a year earlier.