Latest Figures Show New Home Sales Level from Last Year, Prices Fall in Johnson City
Posted on: May 06, 2013 07:17:50 AM
New home closings in the Johnson City, TN market remained steady year-over-year in February, staying level after a year-over-year decline in January from the year earlier. Closings remained level at nine from a year earlier after the figure moved from seven in January 2012 to six in January 2013.
A total of 107 new homes were sold during the 12 months that ended in February, equal to the number of new homes sold for the year that ended in January.
Nine of the 179 total closings were new home closings, a shift on a percentage basis from nine out of 188 a year earlier. Following a year-over-year rise in January, closings of new and existing homes slipped year-over-year in February.
Pricing and Mortgage Trends
The average value of new homes sold in February 2013 declined to $187,178 from the year-earlier figure of $189,833. This came after a 21.5% boost in January year-over-year.
The average mortgage size on new homes was $164,586, up from $161,035. Average mortgage size on new homes went from $188,881 in January 2012 to $200,876 in January 2013. The overall percentage of sale price that was being financed rose 3.1 percentage points year-over-year to 87.9% in February 2013. In January 2013, there was a 12.0 percentage point decline in January from a year earlier.