La Crosse, WI - Latest New Home Sales Numbers Give Hints Market Decline is Slowing
Posted on: Apr 09, 2012 07:40:12 PM
In the La Crosse, WI market in December, sales of new homes sank year-over-year, but the decline was less than the year-over-year decline in November. New home sales moved from five a year earlier to three after the figure moved from five in November 2010 to one in November 2011.
A total of 32 new homes were sold during the 12 months that ended in December, down from 34 for the year that ended in November.
Out of 76 total sales, three were of new homes, which makes up a smaller percentage than the five out of 99 total sales last year. For new and existing homes, sales dropped in December after also declining in November year-over-year.
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The average new home price was $168,500, up from $102,950 a year earlier. This was on the heels of a 33.9% lift in November year-over-year.
Other Market Trends
There was no change in the composition of the new-home market with regard to the types of properties sold in December 2011. Single-family homes continued to account for all of new home sales.
La Crosse, WI - Latest New Home Sales Numbers Give Hints Market Decline is Slowing
Posted on: Apr 09, 2012 07:40:12 PM
In the La Crosse, WI market in December, sales of new homes sank year-over-year, but the decline was less than the year-over-year decline in November. New home sales moved from five a year earlier to three after the figure moved from five in November 2010 to one in November 2011.
A total of 32 new homes were sold during the 12 months that ended in December, down from 34 for the year that ended in November.
Out of 76 total sales, three were of new homes, which makes up a smaller percentage than the five out of 99 total sales last year. For new and existing homes, sales dropped in December after also declining in November year-over-year.
The average new home price was $168,500, up from $102,950 a year earlier. This was on the heels of a 33.9% lift in November year-over-year.
Other Market Trends
There was no change in the composition of the new-home market with regard to the types of properties sold in December 2011. Single-family homes continued to account for all of new home sales.
Foreclosures and real estate owned (REO) sales increased in December from a year earlier and did not appear to be dragging the market. Foreclosures and REO sales, taken together, accounted for 20.5% of existing home sales, up from 9.6% a year earlier. The percentage of existing home sales involving foreclosures rose to 13.7% in December from 6.4% a year earlier while REO sales as a percentage of existing home sales rose to 6.8% from 3.2%.
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Source: Housing Intelligence