Pueblo, CO - Recent Figures for New Home Sales Drop
Posted on: May 07, 2012 09:38:21 AM
Sales of new homes declined year-over-year in February in the Pueblo, CO market, dropping after staying level in January. Sales stood at four in February after being five a year earlier and the figure was unchanged at three in January from a year earlier.
A total of 83 new homes were sold during the 12 months that ended in February, down from 84 for the year that ended in January.
New home sales were four out of the 208 total sales, a move on a percentage basis from five of 185 a year earlier. For new and existing homes, sales jumped year-over-year in February after also increasing in January year-over-year.
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Pricing and Mortgage Trends
The average new home price was $217,002 in February 2012, up from $127,280 a year earlier. This was on the heels of a 19.1% fall in January from a year earlier.
The average mortgage size on new homes was $177,754, up from $160,832. Average mortgage size on new homes went from $262,040 in January 2011 to $155,538 in January 2012.
Pueblo, CO - Recent Figures for New Home Sales Drop
Posted on: May 07, 2012 09:38:21 AM
Sales of new homes declined year-over-year in February in the Pueblo, CO market, dropping after staying level in January. Sales stood at four in February after being five a year earlier and the figure was unchanged at three in January from a year earlier.
A total of 83 new homes were sold during the 12 months that ended in February, down from 84 for the year that ended in January.
New home sales were four out of the 208 total sales, a move on a percentage basis from five of 185 a year earlier. For new and existing homes, sales jumped year-over-year in February after also increasing in January year-over-year.
Pricing and Mortgage Trends
The average new home price was $217,002 in February 2012, up from $127,280 a year earlier. This was on the heels of a 19.1% fall in January from a year earlier.
The average mortgage size on new homes was $177,754, up from $160,832. Average mortgage size on new homes went from $262,040 in January 2011 to $155,538 in January 2012.
Other Market Trends
There was no change in the composition of the new-home market with regard to the types of properties sold in February 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 67.6% of existing home sales. They made up 61.1% in February 2011. The percentage of existing home sales involving foreclosures declined to 26.5% in February from 33.3% a year earlier while REO sales as a percentage of existing home sales rose to 41.2% from 27.8%.
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Source: Housing Intelligence