Deltona, FL - Newest New Home Sales Numbers Decrease Year-Over-Year in February After Rise Year-Over-Year in January
Posted on: May 06, 2012 09:23:28 AM
In February, the Deltona, FL market saw a drop year-over-year in new home sales, moving south after a bump in January 2012. New home sales saw an 18.4% drop from a year earlier to 31. In comparison, new home sales in the same month last year saw a 38.7% rise year-over-year in January.
A total of 633 new homes were sold during the 12 months that ended in February, down from 640 for the year that ended in January.
As a percentage of overall housing sales, new home sales accounted for 5.4%. This marks a rise from 3.2% of total sales a year earlier. Following a year-over-year decline in January, sales of new and existing homes also sank year-over-year in February.
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Pricing and Mortgage Trends
The average price of newly sold homes dipped 6.2% year-over-year in February to $166,967 per unit. This is a reversal from the 14.5% gain in January year-over-year.
In February 2012, average mortgage size on new homes went from $153,188 in February 2011 to $153,554 in February 2012. In January 2012, average mortgage size on newly sold homes saw an 8.4% rise year-over-year from a year earlier. For new home sales, the percentage of the sale price that was being financed increased 5.9 percentage points year-over-year to 92.0% in February 2012. In January 2012, there was a 5.0 percentage point decline in January from a year earlier.
Deltona, FL - Newest New Home Sales Numbers Decrease Year-Over-Year in February After Rise Year-Over-Year in January
Posted on: May 06, 2012 09:23:28 AM
In February, the Deltona, FL market saw a drop year-over-year in new home sales, moving south after a bump in January 2012. New home sales saw an 18.4% drop from a year earlier to 31. In comparison, new home sales in the same month last year saw a 38.7% rise year-over-year in January.
A total of 633 new homes were sold during the 12 months that ended in February, down from 640 for the year that ended in January.
As a percentage of overall housing sales, new home sales accounted for 5.4%. This marks a rise from 3.2% of total sales a year earlier. Following a year-over-year decline in January, sales of new and existing homes also sank year-over-year in February.
Pricing and Mortgage Trends
The average price of newly sold homes dipped 6.2% year-over-year in February to $166,967 per unit. This is a reversal from the 14.5% gain in January year-over-year.
In February 2012, average mortgage size on new homes went from $153,188 in February 2011 to $153,554 in February 2012. In January 2012, average mortgage size on newly sold homes saw an 8.4% rise year-over-year from a year earlier. For new home sales, the percentage of the sale price that was being financed increased 5.9 percentage points year-over-year to 92.0% in February 2012. In January 2012, there was a 5.0 percentage point decline in January from a year earlier.
Other Market Trends
Single-family homes accounted for a greater percentage of new home sales than last year. The share of new home sales belonging to single-family homes climbed from 68.4% in February 2011 to 80.6% of sales in February 2012. Conversely, the share of new home sales belonging to attached units slid to 19.4% of sales from 31.6% of sales.
Foreclosures and real estate owned (REO) sales continued to increase in February from a year earlier and stayed a drag on the market. Together, foreclosures plus REO sales made up 46.3% of existing home sales, up from 35.6% a year earlier. The percentage of existing home sales involving foreclosures rose to 22.5% in February from 11.6% a year earlier and REO sales moved from 24.0% of existing home sales in February 2011 to 23.8% in February 2012.
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Source: Housing Intelligence