Decatur, IL - Newest New Home Sales Stay Level
Posted on: May 06, 2012 09:23:23 AM
New home sales in the Decatur, IL market remained steady year-over-year in February, showing little movement after little change in January from the year earlier. Sales were unchanged at one from a year earlier after remaining steady at one in January from the year earlier.
A total of 13 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.
One of the 72 total sales were new home sales, a shift on a percentage basis from one out of 67 a year earlier. Sales of new and existing homes increased year-over-year in February following a decline in January year-over-year.
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The average value of newly sold homes in February 2012 was $172,000, down from last year's $319,000. This was on the heels of a 42.3% fall in January from a year earlier.
Other Market Trends
There was no change in the composition of the new-home market with regard to the types of properties sold in February 2012. Single-family homes continued to account for all of new home sales.
Decatur, IL - Newest New Home Sales Stay Level
Posted on: May 06, 2012 09:23:23 AM
New home sales in the Decatur, IL market remained steady year-over-year in February, showing little movement after little change in January from the year earlier. Sales were unchanged at one from a year earlier after remaining steady at one in January from the year earlier.
A total of 13 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.
One of the 72 total sales were new home sales, a shift on a percentage basis from one out of 67 a year earlier. Sales of new and existing homes increased year-over-year in February following a decline in January year-over-year.
The average value of newly sold homes in February 2012 was $172,000, down from last year's $319,000. This was on the heels of a 42.3% fall in January from a year earlier.
Other Market Trends
There was no change in the composition of the new-home market with regard to the types of properties sold in February 2012. Single-family homes continued to account for all of new home sales.
Foreclosures and real estate owned (REO) sales remained a burden on the market. Combined, foreclosures plus REO sales represented 36.6% of existing home sales. They made up 30.3% in February 2011. The percentage of existing home sales involving foreclosures rose to 14.1% in February from 6.1% a year earlier while REO sales as a percentage of existing home sales declined to 22.5% from 24.2% a year earlier.
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Source: Housing Intelligence