Anderson, SC - Recent New Home Sales Increase Year-Over-Year in February After Falling Year-Over-Year in January
Posted on: May 06, 2012 09:11:42 AM
In February, there was an increase in sales of new homes in the Anderson, SC market year-over-year, rebounding from a year-over-year decline in January 2012. New home sales moved from 11 a year earlier to 14 after the figure moved from 10 in January 2011 to nine in January 2012.
A total of 144 new homes were sold during the 12 months that ended in February, up from 141 for the year that ended in January.
New home sales were 14 of the 139 total sales, down on a percentage basis from 11 of 89 a year earlier. Following a year-over-year increase in January, sales of new and existing homes also climbed year-over-year in February.
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Pricing and Mortgage Trends
The average per-unit price of new homes was $156,610, compared with $182,666 last year. This was on the heels of a 55.4% fall in January from a year earlier.
The average mortgage size moved to $144,275, down from last year's $151,975. Average mortgage size on new homes went from $127,374 in January 2011 to $137,175 in January 2012.
Anderson, SC - Recent New Home Sales Increase Year-Over-Year in February After Falling Year-Over-Year in January
Posted on: May 06, 2012 09:11:42 AM
In February, there was an increase in sales of new homes in the Anderson, SC market year-over-year, rebounding from a year-over-year decline in January 2012. New home sales moved from 11 a year earlier to 14 after the figure moved from 10 in January 2011 to nine in January 2012.
A total of 144 new homes were sold during the 12 months that ended in February, up from 141 for the year that ended in January.
New home sales were 14 of the 139 total sales, down on a percentage basis from 11 of 89 a year earlier. Following a year-over-year increase in January, sales of new and existing homes also climbed year-over-year in February.
Pricing and Mortgage Trends
The average per-unit price of new homes was $156,610, compared with $182,666 last year. This was on the heels of a 55.4% fall in January from a year earlier.
The average mortgage size moved to $144,275, down from last year's $151,975. Average mortgage size on new homes went from $127,374 in January 2011 to $137,175 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. Combined, foreclosures plus REO sales accounted for 52.8% of existing home sales. In February 2011, they made up 51.3%. The percentage of existing home sales involving foreclosures rose to 29.6% in February from 24.4% a year earlier while REO sales as a percentage of existing home sales declined to 23.2% from 26.9% a year earlier.
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Source: Housing Intelligence