Terre Haute, IN - Latest New Home Sales Numbers Give Hints Market Decrease is Slowing
Posted on: May 07, 2012 09:51:47 AM
In the Terre Haute, IN market, sales of new homes fell year-over-year in January, but the decline was less than the year-over-year decline in December. New home sales moved from two a year earlier to one after the figure moved from five in December 2010 to none in December 2011.
A total of 24 new homes were sold during the 12 months that ended in January, down from 25 for the year that ended in December.
New home sales were one out of the 98 total sales, a move on a percentage basis from two of 132 a year earlier. Following a year-over-year decline in December, sales of new and existing homes also sank year-over-year in January.
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Pricing and Mortgage Trends
The average per-unit price of new homes was $234,122, compared with $275,282 last year. This was on the heels of a set of periods with no new home sales in both December 2011 or December 2010
Average mortgage size on new homes fell from $280,900 to $238,900.
Terre Haute, IN - Latest New Home Sales Numbers Give Hints Market Decrease is Slowing
Posted on: May 07, 2012 09:51:47 AM
In the Terre Haute, IN market, sales of new homes fell year-over-year in January, but the decline was less than the year-over-year decline in December. New home sales moved from two a year earlier to one after the figure moved from five in December 2010 to none in December 2011.
A total of 24 new homes were sold during the 12 months that ended in January, down from 25 for the year that ended in December.
New home sales were one out of the 98 total sales, a move on a percentage basis from two of 132 a year earlier. Following a year-over-year decline in December, sales of new and existing homes also sank year-over-year in January.
Pricing and Mortgage Trends
The average per-unit price of new homes was $234,122, compared with $275,282 last year. This was on the heels of a set of periods with no new home sales in both December 2011 or December 2010
Average mortgage size on new homes fell from $280,900 to $238,900.
Other Market Trends
There was no change in the composition of the new-home market with regard to the types of properties sold in January 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. Together, foreclosures plus REO sales accounted for 25.8% of existing home sales. They made up 34.6% in January 2011. The percentage of existing home sales involving foreclosures dropped to 3.1% in January from 13.8% a year earlier while REO sales as a percentage of existing home sales increased to 22.7% from 20.8%.
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Source: Housing Intelligence