Latest Figures Show New Home Sales and Prices Fall in Abilene
Posted on: Aug 08, 2014 11:05:18 AM
In the Abilene, TX market, new home closings dropped year-over-year in May, but the decline was less than the year-over-year decline in April. New home closings moved from 13 a year earlier to 1 after the figure moved from 15 in April 2013 to 1 in April 2014.
New home closings represented 1 out of the 266 total closings, which is a smaller percentage than the 13 of 339 total closings a year earlier. Following a year-over-year decline in April, closings of new and existing homes also fell year-over-year in May.
Pricing and Mortgage Trends
The average value of newly sold homes in May 2014 was $121,000, down from last year's $209,955. This was on the heels of a.
There was a decline in average mortgage size on new homes, going from $185,940 last year to $96,800 in May 2014.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in May 2014.