Freshest Numbers Show New Home Closings Rise in Pueblo, Prices Drop
Posted on: May 06, 2013 07:30:01 AM
In the Pueblo, CO market in February, new home closings gained year-over-year, but the increase was less than January 2013. New home closings moved from four a year earlier to six after the figure moved from three in January 2012 to 10 in January 2013.
A total of 69 new homes were sold during the 12 months that ended in February, up from 67 for the year that ended in January.
New home closings were six of the 189 total closings, up on a percentage basis from four of 209 a year earlier. Following a period of little movement in January from a year earlier, closings of new and existing homes dipped year-over-year in February.
Pricing and Mortgage Trends
The average value of new homes sold in February 2013 declined to $179,104 from the year-earlier figure of $217,002. This followed a 7.1% rise in January year-over-year.
Average mortgage size on new homes moved from $177,754 to $177,256. Average mortgage size on new homes went from $155,538 in January 2012 to $166,655 in January 2013. Of the overall sale price, the percentage that was being financed grew 17.1 percentage points year-over-year to 99.0% in February 2013. This comes after the figure remained relatively unchanged at 71.6% in January 2013.