Dubuque, IA - Freshest Figures for New Home Sales Remain Level
Posted on: May 06, 2012 09:24:18 AM
The Dubuque, IA market saw no change in new home sales year-over-year in February, staying level after a year-over-year increase in January from a year earlier. Sales remained level at eight from a year earlier after the figure moved from 12 in January 2011 to 13 in January 2012.
A total of 150 new homes were sold during the 12 months that ended in February, equal to the number of new homes sold for the year that ended in January.
Out of 82 total sales, eight were of new homes, which makes up a smaller percentage than the eight out of 64 total sales last year. Sales of new and existing homes jumped year-over-year in February following a decline in January year-over-year.
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Pricing and Mortgage Trends
The average new home price was $260,016 in February 2012, moving north from $227,875 a year earlier. This was on the heels of a 13.2% drop in January from a year earlier.
Average mortgage size on new homes fell from $180,625 to $149,106. Average mortgage size on new homes went from $210,301 in January 2011 to $116,516 in January 2012.
Dubuque, IA - Freshest Figures for New Home Sales Remain Level
Posted on: May 06, 2012 09:24:18 AM
The Dubuque, IA market saw no change in new home sales year-over-year in February, staying level after a year-over-year increase in January from a year earlier. Sales remained level at eight from a year earlier after the figure moved from 12 in January 2011 to 13 in January 2012.
A total of 150 new homes were sold during the 12 months that ended in February, equal to the number of new homes sold for the year that ended in January.
Out of 82 total sales, eight were of new homes, which makes up a smaller percentage than the eight out of 64 total sales last year. Sales of new and existing homes jumped year-over-year in February following a decline in January year-over-year.
Pricing and Mortgage Trends
The average new home price was $260,016 in February 2012, moving north from $227,875 a year earlier. This was on the heels of a 13.2% drop in January from a year earlier.
Average mortgage size on new homes fell from $180,625 to $149,106. Average mortgage size on new homes went from $210,301 in January 2011 to $116,516 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 continued to fall from a year earlier in February, but did not look to be a burden on the market. Foreclosures and REO sales, taken together, represented 10.8% of existing sales, lower than 30.4% a year earlier. The percentage of existing home sales involving foreclosures declined to 2.7% in February from 10.7% a year earlier while REO sales as a percentage of existing home sales dropped to 8.1% from 19.6% a year earlier.
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Source: Housing Intelligence