Evansville, IN - Recent New Home Sales Numbers Suggest Market Rise Strengthening.
Posted on: May 06, 2012 09:26:09 AM
Sales of new homes in the Evansville, IN market climbed year-over-year in January, and the increase was greater than December 2011. New home sales moved from 10 a year earlier to 12 after the figure moved from 16 in December 2010 to 17 in December 2011.
A total of 189 new homes were sold during the 12 months that ended in January, up from 187 for the year that ended in December.
New home sales were 12 out of the 347 total sales, a move on a percentage basis from 10 of 344 a year earlier. Sales of new and existing homes rose year-over-year in January following a decline in December year-over-year.
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Pricing and Mortgage Trends
The average price for newly sold homes moved north to $213,453 from $133,334 a year ago. This was on the heels of a 2.9% rise in December year-over-year.
Average mortgage size on new homes went from $123,262 a year earlier to $185,753. Average mortgage size increased 1.6% in December 2011 from a year earlier. The overall percentage of sale price that was being financed dipped 5.4 percentage points year-over-year to 87.0% in January 2012.
Evansville, IN - Recent New Home Sales Numbers Suggest Market Rise Strengthening.
Posted on: May 06, 2012 09:26:09 AM
Sales of new homes in the Evansville, IN market climbed year-over-year in January, and the increase was greater than December 2011. New home sales moved from 10 a year earlier to 12 after the figure moved from 16 in December 2010 to 17 in December 2011.
A total of 189 new homes were sold during the 12 months that ended in January, up from 187 for the year that ended in December.
New home sales were 12 out of the 347 total sales, a move on a percentage basis from 10 of 344 a year earlier. Sales of new and existing homes rose year-over-year in January following a decline in December year-over-year.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $213,453 from $133,334 a year ago. This was on the heels of a 2.9% rise in December year-over-year.
Average mortgage size on new homes went from $123,262 a year earlier to $185,753. Average mortgage size increased 1.6% in December 2011 from a year earlier. The overall percentage of sale price that was being financed dipped 5.4 percentage points year-over-year to 87.0% in January 2012.
Other Market Trends
As a share of new home sales, single-family home sales have risen from last year while the share belonging to attached units has fallen. Single-family home sales made up 11 of 12 new home sales after accounting for eight of 10 a year earlier. Meanwhile, attached units made up one of 12 new home sales after making up two of 10 sales a year earlier.
Foreclosures and real estate owned (REO) sales stayed a drag on the market. Together, foreclosures plus REO sales made up 38.5% of existing home sales. In January 2011, they represented 40.1%. The percentage of existing home sales involving foreclosures rose to 25.4% in January from 20.4% a year earlier while REO sales as a percentage of existing home sales declined to 13.1% from 19.8% a year earlier.
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Source: Housing Intelligence