Casper, WY - Recent New Home Sales Numbers Give Hints Market Decrease is Slowing
Posted on: May 06, 2012 09:18:11 AM
In the Casper, WY market, new home sales fell year-over-year in January, but the decline was less than the year-over-year decline in December. New home sales moved from 17 a year earlier to 14 after the figure moved from 21 in December 2010 to 15 in December 2011.
A total of 216 new homes were sold during the 12 months that ended in January, down from 219 for the year that ended in December.
On a percentage basis, new home sales as a part of total sales decreased to 10.9% from 12.8% a year earlier. For new and existing homes, sales declined in January after also declining in December year-over-year.
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Pricing and Mortgage Trends
The average price of new homes rose to $271,503 from last year's $256,888. This followed a 24.7% bump in December year-over-year.
Average mortgage size on new homes went from $218,361 a year earlier to $233,349. In December 2011, average mortgage size on newly sold homes saw a 31.1% lift year-over-year from a year earlier. On aveage, the percentage of new home sale price that was being financed went from 85.0% of average price to 85.9% from a year earlier. In December 2011, there was a 4.4 percentage point rise from the year earlier.
Casper, WY - Recent New Home Sales Numbers Give Hints Market Decrease is Slowing
Posted on: May 06, 2012 09:18:11 AM
In the Casper, WY market, new home sales fell year-over-year in January, but the decline was less than the year-over-year decline in December. New home sales moved from 17 a year earlier to 14 after the figure moved from 21 in December 2010 to 15 in December 2011.
A total of 216 new homes were sold during the 12 months that ended in January, down from 219 for the year that ended in December.
On a percentage basis, new home sales as a part of total sales decreased to 10.9% from 12.8% a year earlier. For new and existing homes, sales declined in January after also declining in December year-over-year.
Pricing and Mortgage Trends
The average price of new homes rose to $271,503 from last year's $256,888. This followed a 24.7% bump in December year-over-year.
Average mortgage size on new homes went from $218,361 a year earlier to $233,349. In December 2011, average mortgage size on newly sold homes saw a 31.1% lift year-over-year from a year earlier. On aveage, the percentage of new home sale price that was being financed went from 85.0% of average price to 85.9% from a year earlier. In December 2011, there was a 4.4 percentage point rise from the year earlier.
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 stayed a drag on the market. Together, foreclosures plus REO sales accounted for 27.2% of existing home sales. They made up 36.2% in January 2011. The percentage of existing home sales involving foreclosures slid to 9.6% in January from 25.9% a year earlier while REO sales as a percentage of existing home sales rose to 17.5% from 10.3%.
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Source: Housing Intelligence