New Home Sales and Prices Decrease in Amarillo According to Latest Data
Posted on: Jul 06, 2014 07:01:08 AM
New home closings fell year-over-year in April in the Amarillo, TX market, and the percentage fall was steeper than March 2014, giving suggestion the market may be worsening. New home closings saw a fall of 33.3% from the year earlier to 28. In comparison, new home closings in the same month last year saw a 3.6% fall year-over-year in March.
A total of 387 new homes were sold during the 12 months that ended in April, down from 401 for the year that ended in March.
Out of all housing closings, new home closings represented 6.0%. This is down from the 7.5% of closings a year earlier. For new and existing homes, closings slid in April after also declining in March year-over-year.
Pricing and Mortgage Trends
For newly sold homes, the average price sank 20.1% year-over-year in April to $201,079 per unit. This fall is larger than the 3.0% drop in March from a year earlier.
For newly sold homes, the average mortgage size saw a decline year-over-year in contrast to new home prices. The average mortgage size sank to $182,869 in April, marking a 14.7% drop compared with last year. In March 2014, average mortgage size fell 2.4% from a year earlier.