New Homes Increase in Shreveport, Sales Decrease - August 2014
Posted on: Aug 09, 2014 07:02:25 AM
In the Shreveport, LA market in May, closings of new homes sank year-over-year, and the decline was by a larger percentage than the April 2014. New home closings moved from 20 a year earlier to 5 after the figure moved from 12 in April 2013 to 7 in April 2014.
A total of 86 new homes were sold during the 12 months that ended in May, down from 101 for the year that ended in April.
New home closings represented 5 out of the 431 total closings, which is a smaller percentage than the 20 of 521 total closings a year earlier. Closings of new and existing homes dropped year-over-year in May after also falling in April year-over-year.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $328,800 from $248,886 a year ago. This was on the heels of a 20.5% boost in April year-over-year.
Average mortgage size on new homes went from $229,140 a year earlier to $301,269. Average mortgage size on new homes went from $229,328 in April 2013 to $273,379 in April 2014.