Utica, NY - Recent Figures for New Home Sales Remain Level
Posted on: May 07, 2012 09:53:22 AM
Sales of new homes in the Utica, NY market remained unchanged year-over-year in January, remaining unchanged after minimal movement in December from the year earlier. Sales remained steady at one from a year earlier after being level at two in December from the year earlier.
A total of 21 new homes were sold during the 12 months that ended in January, equal to the number of new homes sold for the year that ended in December.
One of the 86 total sales were new home sales, a shift on a percentage basis from one out of 154 a year earlier. Sales of new and existing homes declined year-over-year in January after also falling in December year-over-year.
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The average price of new homes was $400,000, an increase from $253,300 a year earlier. This followed a 4.8% rise in December 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 January 2012. Single-family homes continued to account for all of new home sales.
Utica, NY - Recent Figures for New Home Sales Remain Level
Posted on: May 07, 2012 09:53:22 AM
Sales of new homes in the Utica, NY market remained unchanged year-over-year in January, remaining unchanged after minimal movement in December from the year earlier. Sales remained steady at one from a year earlier after being level at two in December from the year earlier.
A total of 21 new homes were sold during the 12 months that ended in January, equal to the number of new homes sold for the year that ended in December.
One of the 86 total sales were new home sales, a shift on a percentage basis from one out of 154 a year earlier. Sales of new and existing homes declined year-over-year in January after also falling in December year-over-year.
The average price of new homes was $400,000, an increase from $253,300 a year earlier. This followed a 4.8% rise in December 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 January 2012. Single-family homes continued to account for all of new home sales.
Foreclosures and real estate owned (REO) sales did not appear to be dragging the market. Combined, foreclosures plus REO sales represented 12.9% of existing home sales. In January 2011, they accounted for 4.6%. The percentage of existing home sales involving foreclosures rose to 5.9% in January from 0.7% a year earlier while REO sales as a percentage of existing home sales rose to 7.1% from 3.9%.
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Source: Housing Intelligence