New Home Prices Increase in Yakima According to Newest Figures, Sales Fall
Posted on: Aug 08, 2014 11:57:38 AM
In the Yakima, WA market in May, closings of new homes fell year-over-year, and the decline was by a larger percentage than the April 2014. New home closings moved from 9 a year earlier to 3 after the figure moved from 5 in April 2013 to 3 in April 2014.
A total of 56 new homes were sold during the 12 months that ended in May, down from 62 for the year that ended in April.
New home closings were 3 out of the 245 total closings, down on a percentage basis from 9 of 243 a year earlier. Closings of new and existing homes remained steady in May after being unchanged in April from a year earlier.
Pricing and Mortgage Trends
The average price of new homes rose to $262,667 from last year's $236,316. This came after a 15.5% gain in April year-over-year.
There was a decline in average mortgage size on new homes, going from $210,059 last year to $153,133 in May 2014. Average mortgage size on new homes went from $201,672 in April 2013 to $261,151 in April 2014.