New Home Sales Decline in Kansas City According to Freshest Data
Posted on: Aug 08, 2014 11:29:21 AM
In April, the Kansas City, MO market saw a fall year-over-year in new home closings, and the percentage fall was steeper than March 2014, giving suggestion the market may be worsening. Closings slid 43.7% from a year earlier to 94. This was after the housing market saw a 33.3% fall year-over-year in March.
A total of 1,253 new homes were sold during the 12 months that ended in April, down from 1,326 for the year that ended in March.
New home closings made up 2.4% of overall housing closings. This is a drop 4.0% of closings a year earlier. Closings of new and existing homes dropped year-over-year in April after also falling in March year-over-year.
Pricing and Mortgage Trends
The average price of new homes went from $335,013 in April 2013 to $335,413 in April 2014. This came after a 1.7% boost in March year-over-year.
Average mortgage size on new homes went from $283,213 in April 2013 to $284,985 in April 2014. Average mortgage size went from $258,572 in March 2013 to $259,960 in March 2014.