Newest Figures Show New Home Prices Gain, Sales Drop in Ocala
Posted on: May 06, 2013 07:26:30 AM
In the Ocala, FL market, new home closings dropped year-over-year in February, but compared with January 2013, the percentage decline was less steep, hinting the market may be strengthening. Closings slumped 17.2% from a year earlier to 24. In comparison, new home closings in the same month last year saw a 20.8% decline year-over-year in January.
A total of 250 new homes were sold during the 12 months that ended in February, down from 255 for the year that ended in January.
Moving south from a year earlier, new home closings in February 2013 made up 4.3% of overall housing closings, while the year-ago figure was 6.1%. Closings of new and existing homes climbed year-over-year in February after also rising in January year-over-year.
Pricing and Mortgage Trends
The average per-unit price of new homes grew in February to $215,773, up by 16.6% from a year earlier. This is a turnaround from the 2.9% decline in January from a year earlier.
For newly sold homes, the average mortgage size jumped year-over-year along with new home prices. In February 2013, average mortgage size rose 20.9% from a year earlier to $161,884. In January 2013, average mortgage size slid 12.9% from a year earlier. For new home closings, the percentage of the sale price that was being financed increased 2.7 percentage points year-over-year to 75.0% in February 2013. In January 2013, there was an 8.0 percentage point decline in January from a year earlier.