New Home Sales and Prices Both Gain in Visalia According to Latest Data
Posted on: Jul 06, 2014 07:38:34 AM
There was a rise in new home closings in the Visalia, CA market in April year-over-year, but the percentage gain, which was less than March 2014, seemed to suggest market leveling. Closings climbed 13.3% from a year earlier to 34. This was after the housing market saw a 50.0% climb year-over-year in March.
A total of 561 new homes were sold during the 12 months that ended in April, up from 557 for the year that ended in March.
Of the total number of closings, new home closings made up 7.4%. They made up 6.5% of closings a year earlier. Closings of new and existing homes stayed level after declining in March year-over-year.
Pricing and Mortgage Trends
Average price of newly sold homes saw a 2.6% surge year-over-year in April to $234,018 per unit. This gain is an improvement over the 2.6% rise in March year-over-year.
The average mortgage size on new homes moved north year-over-year along with new home prices. The average mortgage size rose to $230,284 in April, marking a 8.6% surge compared with a year earlier. In March 2014, average mortgage size on newly sold homes saw a 3.3% surge year-over-year from a year earlier.