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Columbia, SC Local News

Columbia, SC - Latest New Home Sales Numbers Suggest Market Rise Slowing.

Posted on: May 06, 2012 09:21:40 AM

New home sales jumped year-over-year in January in the Columbia, SC market, but the percentage hike was less than December 2011, suggesting the market may be leveling. New home sales saw a 21.7% rise from a year earlier to 129 after sales climbed 22.6% in December from the year earlier.

A total of 1,826 new homes were sold during the 12 months that ended in January, up from 1,803 for the year that ended in December.

As a percentage of overall housing sales, new home sales accounted for 22.4% of overall housing sales. They represented 21.7% of sales a year earlier. Following a year-over-year increase in December, sales of new and existing homes also gained year-over-year in January.

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Pricing and Mortgage Trends

The average price of new homes went from $204,628 in January 2011 to $203,547 in January 2012. This was on the heels of a 6.9% decline in December from a year earlier.

Average mortgage size on new homes saw a decline year-over-year in contrast to prices of new homes. In January 2012, the average mortgage size on newly sold homes saw a 3.0% decline from a year earlier. It went from $185,175 to $185,504 from December 2010 to December 2011. For new home sales, the percentage of the sale price that was being financed dipped 2.4 percentage points year-over-year to 92.3% in January 2012. This came after a 6.8 percentage point rise in December from a year earlier.

 
 
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