Dalton, GA - Freshest New Home Sales Numbers Give Hints Market Drop is Slowing
Posted on: May 06, 2012 09:22:58 AM
In February, there was a decline year-over-year in new home sales in the Dalton, GA market, but the decline was less than the year-over-year decline in January. New home sales moved from four a year earlier to one after the figure moved from two in January 2011 to none in January 2012.
A total of 16 new homes were sold during the 12 months that ended in February, down from 19 for the year that ended in January.
New home sales accounted for one of the 156 total sales, a smaller percentage compared with four of 139 sales a year earlier. For new and existing homes, sales rose year-over-year in February after also increasing in January year-over-year.
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Pricing and Mortgage Trends
The average per-unit price of new homes was $30,000, compared with $155,833 last year. This followed a set of periods with no new home sales in both January 2012 or January 2011
The average mortgage size went down to $30,000 from $129,583 a year earlier.
Dalton, GA - Freshest New Home Sales Numbers Give Hints Market Drop is Slowing
Posted on: May 06, 2012 09:22:58 AM
In February, there was a decline year-over-year in new home sales in the Dalton, GA market, but the decline was less than the year-over-year decline in January. New home sales moved from four a year earlier to one after the figure moved from two in January 2011 to none in January 2012.
A total of 16 new homes were sold during the 12 months that ended in February, down from 19 for the year that ended in January.
New home sales accounted for one of the 156 total sales, a smaller percentage compared with four of 139 sales a year earlier. For new and existing homes, sales rose year-over-year in February after also increasing in January year-over-year.
Pricing and Mortgage Trends
The average per-unit price of new homes was $30,000, compared with $155,833 last year. This followed a set of periods with no new home sales in both January 2012 or January 2011
The average mortgage size went down to $30,000 from $129,583 a year earlier.
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 remained a burden on the market. Combined, foreclosures plus REO sales represented 85.8% of existing home sales. In February 2011, they accounted for 84.4%. The percentage of existing home sales involving foreclosures rose to 43.2% in February from 41.5% a year earlier and REO sales moved from 43.0% of existing home sales in February 2011 to 42.6% in February 2012.
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Source: Housing Intelligence