Warner Robins, GA - Recent Figures for New Home Sales Fall Year-Over-Year in February After Climbing Year-Over-Year in January
Posted on: May 07, 2012 09:55:33 AM
In the Warner Robins, GA market in February, new home sales slipped year-over-year, a shift downward off a rise in January 2012. New home sales saw a decline of 6.9% from the year earlier to 27 after sales increased 4.2% in January from the year earlier.
A total of 437 new homes were sold during the 12 months that ended in February, down from 439 for the year that ended in January.
As a percentage of overall housing sales, new home sales represented 17.1% of overall housing sales. A year earlier, new home sales accounted for 17.3% of total sales. After rising year-over-year in January, sales of new and existing homes dipped year-over-year in February.
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Pricing and Mortgage Trends
In February, the average price of newly sold homes declined 6.6% year-over-year to $175,044 per unit. This is a downward shift from a 14.8% lift in January year-over-year.
Average mortgage size on new homes saw a decline year-over-year in contrast to prices of new homes. In February 2012, average mortgage size on new homes sold was $168,444, down 7.9% from a year earlier. Average mortgage size went from $208,263 in January 2011 to $206,282 in January 2012. The overall percentage of sale price that was being financed slipped 1.3 percentage points year-over-year to 96.2% in February 2012.
Warner Robins, GA - Recent Figures for New Home Sales Fall Year-Over-Year in February After Climbing Year-Over-Year in January
Posted on: May 07, 2012 09:55:33 AM
In the Warner Robins, GA market in February, new home sales slipped year-over-year, a shift downward off a rise in January 2012. New home sales saw a decline of 6.9% from the year earlier to 27 after sales increased 4.2% in January from the year earlier.
A total of 437 new homes were sold during the 12 months that ended in February, down from 439 for the year that ended in January.
As a percentage of overall housing sales, new home sales represented 17.1% of overall housing sales. A year earlier, new home sales accounted for 17.3% of total sales. After rising year-over-year in January, sales of new and existing homes dipped year-over-year in February.
Pricing and Mortgage Trends
In February, the average price of newly sold homes declined 6.6% year-over-year to $175,044 per unit. This is a downward shift from a 14.8% lift in January year-over-year.
Average mortgage size on new homes saw a decline year-over-year in contrast to prices of new homes. In February 2012, average mortgage size on new homes sold was $168,444, down 7.9% from a year earlier. Average mortgage size went from $208,263 in January 2011 to $206,282 in January 2012. The overall percentage of sale price that was being financed slipped 1.3 percentage points year-over-year to 96.2% in February 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 home sales have represented all of new home sales while attached unit sales have made up no part of sales.
There was a 1.4% decline year-over-year in the average unit size of newly sold homes to 2,257 square feet in February 2012. A decline was also seen in January 2012 when the average size of new homes sold slid 15.3% to 1,950 square feet.
Foreclosures and real estate owned (REO) sales stayed a drag on the market. Combined, foreclosures plus REO sales accounted for 55.7% of existing home sales. They made up 51.1% in February 2011. The percentage of existing home sales involving foreclosures went from 24.5% in February 2011 to 25.2% in February 2012 and REO sales as a percentage of existing home sales rose to 30.5% from 26.6%.
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Source: Housing Intelligence