Macon, GA - Freshest Figures for New Home Sales Suggest Climb Gaining Steam
Posted on: May 07, 2012 09:26:05 AM
In the Macon, GA market in January, sales of new homes climbed year-over-year, and the increase was greater than December 2011. New home sales moved from eight a year earlier to 11 after the figure moved from nine in December 2010 to 10 in December 2011.
A total of 61 new homes were sold during the 12 months that ended in January, up from 58 for the year that ended in December.
New home sales were 11 out of the 251 total sales, a move on a percentage basis from eight of 191 a year earlier. After dropping in December from a year earlier, sales of new and existing homes jumped year-over-year in January.
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Pricing and Mortgage Trends
The average per-unit price of new homes was $158,945, compared with $191,725 last year. This was on the heels of a 41.8% fall in December from a year earlier.
There was a decline in average mortgage size on new homes, going from $230,616 last year to $141,618 in January 2012. Average mortgage size on new homes went from $147,350 in December 2010 to $133,364 in December 2011.
Macon, GA - Freshest Figures for New Home Sales Suggest Climb Gaining Steam
Posted on: May 07, 2012 09:26:05 AM
In the Macon, GA market in January, sales of new homes climbed year-over-year, and the increase was greater than December 2011. New home sales moved from eight a year earlier to 11 after the figure moved from nine in December 2010 to 10 in December 2011.
A total of 61 new homes were sold during the 12 months that ended in January, up from 58 for the year that ended in December.
New home sales were 11 out of the 251 total sales, a move on a percentage basis from eight of 191 a year earlier. After dropping in December from a year earlier, sales of new and existing homes jumped year-over-year in January.
Pricing and Mortgage Trends
The average per-unit price of new homes was $158,945, compared with $191,725 last year. This was on the heels of a 41.8% fall in December from a year earlier.
There was a decline in average mortgage size on new homes, going from $230,616 last year to $141,618 in January 2012. Average mortgage size on new homes went from $147,350 in December 2010 to $133,364 in December 2011.
Other Market Trends
There was no change in the composition of the new-home market with regard to the types of properties sold in January 2012. Single-family homes continued to account for all of new home sales.
Foreclosures and real estate owned (REO) sales remained level in January from a year earlier, but stayed a drag on the market. Out of all existing home sales, foreclosures combined with REO sales accounted for 72.5% of sales, relatively unmoved from a year earlier. The percentage of existing home sales involving foreclosures slipped to 36.7% in January from 42.1% a year earlier while REO sales as a percentage of existing home sales rose to 35.8% from 30.6%.
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Source: Housing Intelligence