New Home Sales and Prices Decrease in Abilene According to Freshest Data
Posted on: May 06, 2013 07:00:05 AM
New home closings declined year-over-year in February in the Abilene, TX market, declining after staying relatively stable in January from the year earlier. Closings stood at six in February after being nine a year earlier and remaining unchanged at four in January from a year earlier.
A total of 114 new homes were sold during the 12 months that ended in February, down from 117 for the year that ended in January.
New home closings represented six out of the 207 total closings, which is a smaller percentage than the nine of 207 total closings a year earlier. Closings of new and existing homes remained steady in February after rising in January year-over-year.
Pricing and Mortgage Trends
The average value of newly sold homes in February 2013 was $227,747, down from last year's $254,476. This followed a 16.3% decline in January from a year earlier.
Average mortgage size on newly sold homes saw a decline year-over-year from $222,498 to $200,464. Average mortgage size on new homes went from $180,832 in January 2012 to $167,108 in January 2013. On aveage, the percentage of new home sale price that was being financed went from 87.4% of average price to 88.0% from a year earlier. In January 2013, the figure rose 8.8 percentage points from the year earlier.