Abilene, TX - Latest New Home Sales Increase Year-Over-Year in February After Falling Year-Over-Year in January
Posted on: May 06, 2012 09:10:03 AM
In February, sales of new homes in the Abilene, TX market rose year-over-year, rebounding from a year-over-year decline in January 2012. New home sales moved from six a year earlier to 12 after the figure moved from 11 in January 2011 to two in January 2012.
A total of 128 new homes were sold during the 12 months that ended in February, up from 122 for the year that ended in January.
New home sales were 12 of the 188 total sales, up on a percentage basis from six of 177 a year earlier. After dropping in January from a year earlier, sales of new and existing homes increased year-over-year in February.
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Pricing and Mortgage Trends
The average new home price in February 2012 went up to $254,476 from $183,795 a year ago. This came after a 17.2% decline in January from a year earlier.
The average mortgage size on new homes was $222,498, up from $187,547. Average mortgage size on new homes went from $183,481 in January 2011 to $153,665 in January 2012.
Abilene, TX - Latest New Home Sales Increase Year-Over-Year in February After Falling Year-Over-Year in January
Posted on: May 06, 2012 09:10:03 AM
In February, sales of new homes in the Abilene, TX market rose year-over-year, rebounding from a year-over-year decline in January 2012. New home sales moved from six a year earlier to 12 after the figure moved from 11 in January 2011 to two in January 2012.
A total of 128 new homes were sold during the 12 months that ended in February, up from 122 for the year that ended in January.
New home sales were 12 of the 188 total sales, up on a percentage basis from six of 177 a year earlier. After dropping in January from a year earlier, sales of new and existing homes increased year-over-year in February.
Pricing and Mortgage Trends
The average new home price in February 2012 went up to $254,476 from $183,795 a year ago. This came after a 17.2% decline in January from a year earlier.
The average mortgage size on new homes was $222,498, up from $187,547. Average mortgage size on new homes went from $183,481 in January 2011 to $153,665 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 continued to drop from a year earlier in February, but did not look to be a burden on the market. Together, foreclosures plus REO sales accounted for 17.6% of existing home sales, down from 28.1% a year earlier. The percentage of existing home sales involving foreclosures dipped to 10.8% in February from 14.6% a year earlier while REO sales as a percentage of existing home sales fell to 6.8% from 13.5% a year earlier.
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Source: Housing Intelligence