Valdosta, GA - Newest New Home Sales Figures Climb
Posted on: May 07, 2012 09:53:39 AM
In February, sales of new homes climbed year-over-year in the Valdosta, GA market, increasing after staying level in January. Sales stood at 12 in February after being nine a year earlier and the figure was unchanged at nine in January from a year earlier.
A total of 175 new homes were sold during the 12 months that ended in February, up from 172 for the year that ended in January.
New home sales were 12 of the 129 total sales, up on a percentage basis from nine of 144 a year earlier. Following a year-over-year rise in January, sales of new and existing homes sank year-over-year in February.
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Pricing and Mortgage Trends
The average value of new homes sold in February 2012 declined to $166,498 from the year-earlier figure of $183,744. This came after a 21.0% boost in January year-over-year.
There was a decline in average mortgage size on new homes, going from $179,462 last year to $160,502 in February 2012. Average mortgage size on new homes went from $146,436 in January 2011 to $155,449 in January 2012.
Valdosta, GA - Newest New Home Sales Figures Climb
Posted on: May 07, 2012 09:53:39 AM
In February, sales of new homes climbed year-over-year in the Valdosta, GA market, increasing after staying level in January. Sales stood at 12 in February after being nine a year earlier and the figure was unchanged at nine in January from a year earlier.
A total of 175 new homes were sold during the 12 months that ended in February, up from 172 for the year that ended in January.
New home sales were 12 of the 129 total sales, up on a percentage basis from nine of 144 a year earlier. Following a year-over-year rise in January, sales of new and existing homes sank year-over-year in February.
Pricing and Mortgage Trends
The average value of new homes sold in February 2012 declined to $166,498 from the year-earlier figure of $183,744. This came after a 21.0% boost in January year-over-year.
There was a decline in average mortgage size on new homes, going from $179,462 last year to $160,502 in February 2012. Average mortgage size on new homes went from $146,436 in January 2011 to $155,449 in January 2012.
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 fell in February from a year earlier, but remained a drag on the market. Out of all existing home sales, foreclosures combined with REO sales made up 50.4% of sales, below 63.7% a year earlier. The percentage of existing home sales involving foreclosures dipped to 26.5% in February from 31.9% a year earlier while REO sales as a percentage of existing home sales declined to 23.9% from 31.9% a year earlier.
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Source: Housing Intelligence