Wausau, WI - Recent New home Sales Remain Steady
Posted on: May 07, 2012 09:56:05 AM
New home sales in the Wausau, WI market were unchanged year-over-year in February, staying flat after dropping year-over-year in January from the year earlier. Sales remained level at five from a year earlier after the figure moved from 10 in January 2011 to five in January 2012.
A total of 65 new homes were sold during the 12 months that ended in February, equal to the number of new homes sold for the year that ended in January.
New home sales were five out of the 125 total sales, a move on a percentage basis from five of 106 a year earlier. New and existing home sales grew in February after a remaining level in January from a year earlier.
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Pricing and Mortgage Trends
The average per-unit price of new homes was $98,620, compared with $153,740 last year. This was on the heels of a 19.5% decline in January from a year earlier.
Average mortgage size on newly sold homes saw a decline year-over-year from $144,536 to $114,333. Average mortgage size on new homes went from $245,603 in January 2011 to $114,996 in January 2012.
Wausau, WI - Recent New home Sales Remain Steady
Posted on: May 07, 2012 09:56:05 AM
New home sales in the Wausau, WI market were unchanged year-over-year in February, staying flat after dropping year-over-year in January from the year earlier. Sales remained level at five from a year earlier after the figure moved from 10 in January 2011 to five in January 2012.
A total of 65 new homes were sold during the 12 months that ended in February, equal to the number of new homes sold for the year that ended in January.
New home sales were five out of the 125 total sales, a move on a percentage basis from five of 106 a year earlier. New and existing home sales grew in February after a remaining level in January from a year earlier.
Pricing and Mortgage Trends
The average per-unit price of new homes was $98,620, compared with $153,740 last year. This was on the heels of a 19.5% decline in January from a year earlier.
Average mortgage size on newly sold homes saw a decline year-over-year from $144,536 to $114,333. Average mortgage size on new homes went from $245,603 in January 2011 to $114,996 in January 2012.
Other Market Trends
The share of new home sales made up by attached units has risen while the share belonging to single-family homes has fallen. Attached sales made up three of five new home sales after accounting for no part of sales a year earlier. Meanwhile, single-family homes made up two of five new home sales after making up all of sales a year earlier.
Foreclosures and real estate owned (REO) sales stayed a drag on the market. Together, foreclosures plus REO sales represented 59.2% of existing home sales. They accounted for 52.5% in February 2011. The percentage of existing home sales involving foreclosures stayed at 25.7% of sales in February from a year earlier while REO sales as a percentage of existing home sales increased to 33.3% from 26.7%.
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Source: Housing Intelligence