New Orleans, LA - Local Housing Data - Summary

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New Orleans, LA Local News

New Home Closings and Prices Drop in New Orleans - August 2014

Posted on: Aug 09, 2014 07:01:45 AM

Closings of new homes declined year-over-year in April in the New Orleans, LA market, but the decline was less than the year-over-year decline in March. New home closings moved from 10 a year earlier to 3 after the figure moved from 14 in March 2013 to 4 in March 2014.

A total of 64 new homes were sold during the 12 months that ended in April, down from 71 for the year that ended in March.

New home closings were 3 out of the 1,321 total closings, a move on a percentage basis from 10 of 1,218 a year earlier. After dropping in March from a year earlier, closings of new and existing homes grew year-over-year in April.

Pricing and Mortgage Trends

The average new home price was $154,047, down from $298,744 a year earlier. This came after a 27.5% fall in March from a year earlier.

The average mortgage size moved to $134,293, down from last year's $226,094. Average mortgage size on new homes went from $242,127 in March 2013 to $178,713 in March 2014.

 
 
 

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