Latest Numbers For Casper Show New Home Closings and Prices Climb
Posted on: May 06, 2013 07:05:43 AM
There was an increase in closings of new homes in the Casper, WY market in January year-over-year, showing growth after remaining stable in December from the year earlier. New home closings saw a climb of 33.3% from a year earlier to 20. Closings were level in December from the year earlier.
A total of 235 new homes were sold during the 12 months that ended in January, up from 230 for the year that ended in December.
As a percentage of overall housing closings, new home closings represented 14.6%. This is a hike from 11.3% of closings a year earlier. After dropping in December from a year earlier, closings of new and existing homes increased year-over-year in January.
Pricing and Mortgage Trends
Average price of newly sold homes saw a 15.7% hike year-over-year in January to $314,263 per unit. This rise follows a move from $299,522 per unit to $298,910 from December 2011 to December 2012.
For newly sold homes, the average mortgage size saw a rise year-over-year along with new home prices. In January 2013, there was a 9.5% rise in the average mortgage size, reaching $255,474. Average mortgage size dipped 8.8% in December 2012 from a year earlier. For new home closings, the percentage of the sale price that was being financed fell 4.7 percentage points year-over-year to 81.3% in January 2013.
Latest Numbers For Casper Show New Home Closings and Prices Climb
Posted on: May 06, 2013 07:05:43 AM
There was an increase in closings of new homes in the Casper, WY market in January year-over-year, showing growth after remaining stable in December from the year earlier. New home closings saw a climb of 33.3% from a year earlier to 20. Closings were level in December from the year earlier.
A total of 235 new homes were sold during the 12 months that ended in January, up from 230 for the year that ended in December.
As a percentage of overall housing closings, new home closings represented 14.6%. This is a hike from 11.3% of closings a year earlier. After dropping in December from a year earlier, closings of new and existing homes increased year-over-year in January.
Pricing and Mortgage Trends
Average price of newly sold homes saw a 15.7% hike year-over-year in January to $314,263 per unit. This rise follows a move from $299,522 per unit to $298,910 from December 2011 to December 2012.
For newly sold homes, the average mortgage size saw a rise year-over-year along with new home prices. In January 2013, there was a 9.5% rise in the average mortgage size, reaching $255,474. Average mortgage size dipped 8.8% in December 2012 from a year earlier. For new home closings, the percentage of the sale price that was being financed fell 4.7 percentage points year-over-year to 81.3% in January 2013.
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 2013. Single-family home closings have made up all of new home closings while attached unit closings have accounted for no part of closings.
The average unit size of newly sold homes gained 33.9% year-over-year to 2,217 square feet in January 2013. An increase was also seen in December 2012 when the average size of new homes sold climbed 18.6% to 1,608 square feet.
Foreclosures and real estate owned (REO) closings remained a drag on the market. Together, foreclosures plus REO closings made up 30.8% of existing home closings. They represented 28.8% in January 2012. The percentage of existing home closings involving foreclosures rose to 16.2% in January from 12.7% a year earlier while REO closings as a percentage of existing home closings declined to 14.5% from 16.1% a year earlier.
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Source: Housing Intelligence