Latest Numbers Indicate New Home Closings and Prices Decrease in Hickory
Posted on: Aug 08, 2014 11:25:59 AM
New home closings in the Hickory, NC market declined year-over-year in May, and the decline was by a larger percentage than the April 2014. New home closings moved from 3 a year earlier to 1 after the figure moved from 3 in April 2013 to 2 in April 2014.
1 of the 367 total closings were new home closings, a shift on a percentage basis from 3 out of 406 a year earlier. Following a year-over-year decline in April, closings of new and existing homes also dropped year-over-year in May.
Pricing and Mortgage Trends
The average new home price was $153,000, down from $184,333 a year earlier. This was on the heels of a 47.5% surge in April year-over-year.
Average mortgage size on new homes went from $147,075 a year earlier to $155,867. Average mortgage size on new homes went from $190,153 in April 2013 to $273,904 in April 2014.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in May 2014.