Prices of New Homes Increase in Warner Robins, Sales Fall According to Newest Data
Posted on: May 06, 2013 07:38:50 AM
In the Warner Robins, GA market, new home closings dropped year-over-year in February, but there were signals that the market may be leveling out with a percentage fall less steep than in January 2013. New home closings saw a 20.0% fall from a year earlier to 20 after closings dropped 40.0% in January from the year earlier.
A total of 361 new homes were sold during the 12 months that ended in February, down from 366 for the year that ended in January.
As a percentage of overall housing closings, new home closings accounted for 10.6%, down from the 15.1% of closings a year earlier. Following a year-over-year increase in January, closings of new and existing homes also grew year-over-year in February.
Pricing and Mortgage Trends
In February, the average price of newly sold homes rose 19.2% year-over-year to $206,490 per unit. This is an upward shift from a 14.8% decline in January from a year earlier.
The average mortgage size on new homes moved north year-over-year along with new home prices. Average mortgage size increased 8.7% to $180,801 in February from a year earlier. Average mortgage size went from $202,194 in January 2012 to $202,478 in January 2013. Of the overall sale price, the percentage that was being financed slipped 8.5 percentage points year-over-year to 87.6% in February 2013. This came after a 14.3 percentage point surge in January from a year earlier.