Recent Figures Show New Home Sales and Prices Decrease in Yakima
Posted on: Apr 06, 2014 07:46:45 AM
Closings of new homes slid year-over-year in January in the Yakima, WA market, declining after staying relatively stable in December from the year earlier. Closings stood at 4 in January after being 9 a year earlier and remaining unchanged at 6 in December from a year earlier.
A total of 92 new homes were sold during the 12 months that ended in January, down from 97 for the year that ended in December.
Last year, 9 of 142 total closings were new homes, and this percentage saw a decline as new home closings this year made up 4 of the 178 total closings. Closings of new and existing homes rose year-over-year in January following a decline in December year-over-year.
Pricing and Mortgage Trends
The average value of newly sold homes in January 2014 was $202,206, down from last year's $231,933. This came after a 18.0% drop in December from a year earlier.
Average mortgage size on newly sold homes saw a decline year-over-year from $211,192 to $183,586. Average mortgage size on new homes went from $196,105 in December 2012 to $192,246 in December 2013.