New Home Prices Climb in Shreveport According to Latest Figures, Sales Decline
Posted on: Jul 06, 2014 07:34:25 AM
In April, the Shreveport, LA market saw a drop year-over-year in new home closings, but the drop in percentage terms was not as steep as March 2014, signaling market improvement. New home closings saw a fall of 12.9% from the year earlier to 27. This came after a 62.5% drop year-over-year in March.
A total of 361 new homes were sold during the 12 months that ended in April, down from 365 for the year that ended in March.
Of the total number of closings, new home closings made up 6.0%. A year earlier, new home closings accounted for 6.2% of total closings. For new and existing homes, closings dropped in April after also declining in March year-over-year.
Pricing and Mortgage Trends
For newly sold homes, the average price climbed 4.0% year-over-year in April to $267,019 per unit. This bump is better than the 2.3% surge in March year-over-year.
Average mortgage size on new homes saw a fall year-over-year in contrast to prices of new homes. Average mortgage size fell 5.4% to $237,865 in April from a year earlier. Average mortgage size increased 12.5% in March 2014 from a year earlier.