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Spokane, WA Local News

Spokane, WA - Freshest New Home Sales Increase Year-Over-Year in February After Falling Year-Over-Year in January

Posted on: May 07, 2012 09:48:09 AM

In the Spokane, WA market, new home sales climbed year-over-year in February, an upward turn from a decline in January 2012. New home sales saw a hike of 30.8% from the year earlier to 34 after sales declined 3.8% in January from the year earlier.

A total of 512 new homes were sold during the 12 months that ended in February, up from 504 for the year that ended in January.

As a percentage of overall housing sales, new home sales made up 9.2%. This is a rise from 7.6% of sales a year earlier. After dropping in January from a year earlier, sales of new and existing homes rose year-over-year in February.

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Pricing and Mortgage Trends

For newly sold homes, the average price increased 8.5% year-over-year in February to $205,196 per unit. This is a swing up from the 14.2% drop in January from a year earlier.

In February 2012, average mortgage size on newly sold homes moved from $188,801 to $187,897 from February 2011. Average mortgage size rose 4.6% in January 2012 from a year earlier. For new home sales, the percentage of the sale price that was being financed fell 8.2 percentage points year-over-year to 91.6% in February 2012. In January 2012, there was a 17.4 percentage point lift from a year earlier.

 
 
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