New Home Sales Climb in Abilene, Prices Decrease According to Freshest Data
Posted on: Jul 06, 2014 07:00:02 AM
In the Abilene, TX market, closings of new homes grew year-over-year in April, but the increase was less than March 2014. New home closings moved from 18 a year earlier to 22 after the figure moved from 9 in March 2013 to 21 in March 2014.
A total of 188 new homes were sold during the 12 months that ended in April, up from 184 for the year that ended in March.
New home closings accounted for 9.2% of overall housing closings. This marks a rise from 6.3% of total closings a year earlier. After rising year-over-year in March, closings of new and existing homes slid year-over-year in April.
Pricing and Mortgage Trends
For newly sold homes, the average price fell 14.5% year-over-year in April to $225,752 per unit. This fall is larger than the 13.8% decline in March from a year earlier.
The average mortgage size on newly sold homes moved south year-over-year in contrast to new home prices. Average mortgage size dropped by 15.5% from a year earlier, settling at $200,560 in April. Average mortgage size on new homes went from $234,568 in March 2013 to $201,501 in March 2014.