Janesville, WI - Freshest Figures for New Home Sales Suggest Market Fall is Mounting
Posted on: Apr 09, 2012 07:37:43 PM
In the Janesville, WI market, new home sales fell year-over-year in December, and the decline was by a larger percentage than the November 2011. New home sales moved from eight a year earlier to two after the figure moved from six in November 2010 to three in November 2011.
A total of 59 new homes were sold during the 12 months that ended in December, down from 65 for the year that ended in November.
Out of 129 total sales, two were of new homes, which makes up a smaller percentage than the eight out of 137 total sales last year. Sales of new and existing homes slipped year-over-year in December after also falling in November year-over-year.
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The average new home price was $166,500 in December 2011, up from $126,257 a year earlier. This was on the heels of a 12.6% drop in November 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 seven of eight last year. Meanwhile, attached units made up no part of new home sales after making up one of eight sales a year earlier.
Janesville, WI - Freshest Figures for New Home Sales Suggest Market Fall is Mounting
Posted on: Apr 09, 2012 07:37:43 PM
In the Janesville, WI market, new home sales fell year-over-year in December, and the decline was by a larger percentage than the November 2011. New home sales moved from eight a year earlier to two after the figure moved from six in November 2010 to three in November 2011.
A total of 59 new homes were sold during the 12 months that ended in December, down from 65 for the year that ended in November.
Out of 129 total sales, two were of new homes, which makes up a smaller percentage than the eight out of 137 total sales last year. Sales of new and existing homes slipped year-over-year in December after also falling in November year-over-year.
The average new home price was $166,500 in December 2011, up from $126,257 a year earlier. This was on the heels of a 12.6% drop in November 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 seven of eight last year. Meanwhile, attached units made up no part of new home sales after making up one of eight sales a year earlier.
Foreclosures and real estate owned (REO) sales remained a burden on the market. Out of all existing home sales, foreclosures combined with REO sales represented 37.8% of sales. They accounted for 40.3% in December 2010. The percentage of existing home sales involving foreclosures dipped to 20.5% in December from 24.0% a year earlier while REO sales as a percentage of existing home sales rose to 17.3% from 16.3%.
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Source: Housing Intelligence