Altoona, PA - Latest Figures for New Home Sales Remain Level
Posted on: Apr 09, 2012 07:05:42 PM
New home sales in the Altoona, PA market stayed the same year-over-year in December, remaining relatively stable after moving north year-over-year in November from the year earlier. Sales remained level at two from a year earlier after the figure moved from none in November 2010 to two in November 2011.
A total of 18 new homes were sold during the 12 months that ended in December, equal to the number of new homes sold for the year that ended in November.
Two of the 90 total sales were new home sales, a shift on a percentage basis from two out of 110 a year earlier. Following a year-over-year decline in November, sales of new and existing homes also sank year-over-year in December.
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Pricing and Mortgage Trends
The average per-unit price of new homes was $117,775, compared with $193,950 last year. This came after a shift to an average price of $219,500 in November 2011 after there were no sales in November 2010.
Average mortgage size on new homes fell from $199,980 to $170,550.
Altoona, PA - Latest Figures for New Home Sales Remain Level
Posted on: Apr 09, 2012 07:05:42 PM
New home sales in the Altoona, PA market stayed the same year-over-year in December, remaining relatively stable after moving north year-over-year in November from the year earlier. Sales remained level at two from a year earlier after the figure moved from none in November 2010 to two in November 2011.
A total of 18 new homes were sold during the 12 months that ended in December, equal to the number of new homes sold for the year that ended in November.
Two of the 90 total sales were new home sales, a shift on a percentage basis from two out of 110 a year earlier. Following a year-over-year decline in November, sales of new and existing homes also sank year-over-year in December.
Pricing and Mortgage Trends
The average per-unit price of new homes was $117,775, compared with $193,950 last year. This came after a shift to an average price of $219,500 in November 2011 after there were no sales in November 2010.
Average mortgage size on new homes fell from $199,980 to $170,550.
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 stayed a drag on the market. Combined, foreclosures plus REO sales made up 25.0% of existing home sales. They represented 22.2% in December 2010. The percentage of existing home sales involving foreclosures dipped to 10.2% in December from 12.0% a year earlier while REO sales as a percentage of existing home sales rose to 14.8% from 10.2%.
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Source: Housing Intelligence