Green Bay, WI - Newest Figures for New Home Sales Rise Year-Over-Year in January After Decline Year-Over-Year in December
Posted on: May 07, 2012 09:14:19 AM
In January, there was an increase in sales of new homes in the Green Bay, WI market year-over-year, rebounding from a year-over-year decline in December 2011. New home sales moved from eight a year earlier to 14 after the figure moved from 21 in December 2010 to 20 in December 2011.
A total of 267 new homes were sold during the 12 months that ended in January, up from 261 for the year that ended in December.
New home sales were 14 out of 203 total sales, making up 6.9%. This is up on a percentage basis from eight of 257 a year earlier. For new and existing homes, sales sank in January after also declining in December year-over-year.
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Pricing and Mortgage Trends
The average new home price was $215,379 in January 2012, moving north from $137,738 a year earlier. This followed a 3.8% decline in December from a year earlier.
Average mortgage size on new homes increased to $216,186 from $172,513 last year. Average mortgage size dipped 7.2% in December 2011 from a year earlier.
Green Bay, WI - Newest Figures for New Home Sales Rise Year-Over-Year in January After Decline Year-Over-Year in December
Posted on: May 07, 2012 09:14:19 AM
In January, there was an increase in sales of new homes in the Green Bay, WI market year-over-year, rebounding from a year-over-year decline in December 2011. New home sales moved from eight a year earlier to 14 after the figure moved from 21 in December 2010 to 20 in December 2011.
A total of 267 new homes were sold during the 12 months that ended in January, up from 261 for the year that ended in December.
New home sales were 14 out of 203 total sales, making up 6.9%. This is up on a percentage basis from eight of 257 a year earlier. For new and existing homes, sales sank in January after also declining in December year-over-year.
Pricing and Mortgage Trends
The average new home price was $215,379 in January 2012, moving north from $137,738 a year earlier. This followed a 3.8% decline in December from a year earlier.
Average mortgage size on new homes increased to $216,186 from $172,513 last year. Average mortgage size dipped 7.2% in December 2011 from a year earlier.
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 all of new home sales after accounting for six of eight last year. Meanwhile, attached units made up no part of new home sales after making up two of eight sales a year earlier.
Foreclosures and real estate owned (REO) sales remained a drag on the market. Combined, foreclosures plus REO sales accounted for 47.6% of existing home sales. In January 2011, they made up 41.4%. The percentage of existing home sales involving foreclosures rose to 25.9% in January from 19.3% a year earlier and REO sales moved from 22.1% of existing home sales in January 2011 to 21.7% in January 2012.
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Source: Housing Intelligence