New Home Sales and Prices Both Rise in Deltona According to Recent Data
Posted on: Aug 08, 2014 11:17:54 AM
In the Deltona, FL market in May, closings of new homes climbed year-over-year, and the percentage lift was sharper than April 2014, hinting that the market may be strengthening. New home closings saw a jump of 40.3% from the year earlier to 87. This was after the housing market saw a 17.1% climb year-over-year in April.
A total of 857 new homes were sold during the 12 months that ended in May, up from 832 for the year that ended in April.
As a percentage of overall housing closings, new home closings represented 6.1%. This is better than the 4.4% of closings a year earlier. Following a year-over-year increase in April, closings of new and existing homes also rose year-over-year in May.
Pricing and Mortgage Trends
In May, the average value of new homes saw a 12.6% rise year-over-year as it grew to $241,840 per unit. This lift is smaller than the 19.7% boost in April year-over-year.
Average mortgage size on new homes went from $191,926 in May 2013 to $193,361 in May 2014. In April 2014, average mortgage size jumped 18.9% from a year earlier.