New Home Sales and Prices Decrease in Poughkeepsie According to Newest Data
Posted on: May 06, 2013 07:29:28 AM
New home closings in the Poughkeepsie, NY market declined year-over-year in January, a move downward following a gain in December 2012. New home closings declined by 5.0% in January 2013 from a year earlier, after closings saw a 10.3% climb in December from the year earlier.
A total of 573 new homes were sold during the 12 months that ended in January, down from 575 for the year that ended in December.
Out of all housing closings, new home closings made up 13.5%, down from the 15.5% of closings a year earlier. Following a decline in December year-over-year, closings of new and existing homes increased year-over-year in January.
Pricing and Mortgage Trends
The average price of new homes fell 2.6% year-over-year in January to $339,327 per unit. This decline is a drop off from the 15.2% drop in December from a year earlier.
In contrast to new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. The average mortgage size saw a 9.9% rise year-over-year to $336,450 in January. Average mortgage size sank 18.6% in December 2012 from a year earlier. Of the overall sale price, the percentage that was being financed increased 11.2 percentage points year-over-year to 99.2% in January 2013. In December 2012, there was a 2.9 percentage point decline in December from a year earlier.