Appleton, WI - Newest New Home Sales Numbers Climb Year-Over-Year in February After Drop Year-Over-Year in January
Posted on: May 06, 2012 09:11:50 AM
In the Appleton, WI market in February, new home sales increased year-over-year, rebounding from a year-over-year decline in January 2012. New home sales moved from 16 a year earlier to 20 after the figure moved from 13 in January 2011 to nine in January 2012.
A total of 212 new homes were sold during the 12 months that ended in February, up from 208 for the year that ended in January.
Of 179 total sales, 20 were of new homes. This is a rise from 9.8% of sales a year earlier. Following a year-over-year increase in January, sales of new and existing homes also increased year-over-year in February.
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Pricing and Mortgage Trends
Average price of newly sold homes had a 19.5% bump year-over-year to $217,377 per unit in February. This rise is smaller than the 57.3% lift in January year-over-year.
For newly sold homes, the average mortgage size saw a surge year-over-year along with new home prices. Average mortgage size jumped 10.6% to $191,376 in February from a year earlier. Average mortgage size on new homes went from $119,236 in January 2011 to $209,569 in January 2012. The overall percentage of sale price that was being financed dipped 7.1 percentage points year-over-year to 88.0% in February 2012. In January 2012, there was a 10.5 percentage point gain from a year earlier.
Appleton, WI - Newest New Home Sales Numbers Climb Year-Over-Year in February After Drop Year-Over-Year in January
Posted on: May 06, 2012 09:11:50 AM
In the Appleton, WI market in February, new home sales increased year-over-year, rebounding from a year-over-year decline in January 2012. New home sales moved from 16 a year earlier to 20 after the figure moved from 13 in January 2011 to nine in January 2012.
A total of 212 new homes were sold during the 12 months that ended in February, up from 208 for the year that ended in January.
Of 179 total sales, 20 were of new homes. This is a rise from 9.8% of sales a year earlier. Following a year-over-year increase in January, sales of new and existing homes also increased year-over-year in February.
Pricing and Mortgage Trends
Average price of newly sold homes had a 19.5% bump year-over-year to $217,377 per unit in February. This rise is smaller than the 57.3% lift in January year-over-year.
For newly sold homes, the average mortgage size saw a surge year-over-year along with new home prices. Average mortgage size jumped 10.6% to $191,376 in February from a year earlier. Average mortgage size on new homes went from $119,236 in January 2011 to $209,569 in January 2012. The overall percentage of sale price that was being financed dipped 7.1 percentage points year-over-year to 88.0% in February 2012. In January 2012, there was a 10.5 percentage point gain from a year earlier.
Other Market Trends
As a percentage of new home sales, attached unit sales have gained from last year while single-family home sales have dropped. The share of new home sales belonging to attached units jumped from 12.5% of sales in February 2011 to 20.0% of sales in February 2012. Conversely, the share belonging to single-family homes fell to 80.0% of sales from 87.5% of sales.
Foreclosures and real estate owned (REO) sales decreased in February from a year earlier, but remained a drag on the market. Combined, foreclosures plus REO sales made up 32.1% of existing home sales, below 46.6% a year earlier. The percentage of existing home sales involving foreclosures declined to 15.7% in February from 17.6% a year earlier while REO sales as a percentage of existing home sales dropped to 16.4% from 29.1% a year earlier.
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Source: Housing Intelligence