New Home Closings and Prices in Amarillo Rise According to Latest Figures
Posted on: Dec 06, 2013 07:01:37 AM
There was an increase in closings of new homes in the Amarillo, TX market in September year-over-year, and the percentage bump was better than August 2013, suggesting the market may be strengthening. Closings gained 34.5% from a year earlier to 39. This came on the heels of a 30.6% boost year-over-year in August.
A total of 398 new homes were sold during the 12 months that ended in September, up from 388 for the year that ended in August.
As a percentage of overall housing closings, new home closings accounted for 7.1%. This is better than the 6.0% of closings a year earlier. Closings of new and existing homes gained year-over-year in September following a fall in August year-over-year.
Pricing and Mortgage Trends
The average price of new homes jumped year-over-year 1.3% in September to $231,510 per unit. This rise is smaller than the 8.1% hike in August year-over-year.
Average mortgage size on new homes saw a decline year-over-year in contrast to prices of new homes. In September 2013, there was a 6.3% drop in the average mortgage size on new homes to $196,367. In August 2013, average mortgage size climbed 6.8% from a year earlier.