Newest Numbers Show New Home Sales Drop in Amarillo
Posted on: May 06, 2013 07:01:08 AM
In February, there was a drop year-over-year in new home closings in the Amarillo, TX market, shifting down after remaining relatively stable in January from the year earlier. New home closings slid to 25, marking a 19.4% drop. This came after closings remained level in the same month last year.
A total of 394 new homes were sold during the 12 months that ended in February, down from 400 for the year that ended in January.
Of the total number of closings, new home closings made up 7.2%. They accounted for 7.8% of closings a year earlier. Closings of new and existing homes slid year-over-year in February after also falling in January year-over-year.
Pricing and Mortgage Trends
The average value of newly sold homes moved to $237,893 in February 2013 from $239,319 in February 2012. This came after a 16.2% hike in January year-over-year.
For newly sold homes, average mortgage size moved from $207,299 in February 2012 to $205,576 in February 2013. In January 2013, average mortgage size increased 5.0% from a year earlier. For newly sold homes, the percentage of sale price being financed moved to 86.4% from a year earlier figure of 86.6%. In January 2013, the figure dipped 9.2 percentage points from the year earlier.