New Homes Increase in Dubuque, Sales Fall - August 2014
Posted on: Aug 09, 2014 07:00:37 AM
In the Dubuque, IA market in May, new home closings slid year-over-year, but the decline was less than the year-over-year decline in April. New home closings moved from 12 a year earlier to 9 after the figure moved from 10 in April 2013 to 4 in April 2014.
A total of 102 new homes were sold during the 12 months that ended in May, down from 105 for the year that ended in April.
New home closings were 6.3% of total closings a year earlier, and this percentage saw a decline as new home closings this year made up 9 of the 174 total closings. Following a year-over-year increase in April, closings of new and existing homes dropped year-over-year in May.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $268,444 from $251,227 a year ago. This followed a 14.6% fall in April from a year earlier.
From the year-ago figure of $193,771, the average mortgage size on new homes moved up to $254,702. Average mortgage size on new homes went from $206,350 in April 2013 to $118,050 in April 2014.