New Home Closings and Prices in Amarillo Drop According to Latest Figures
Posted on: Apr 06, 2014 07:01:20 AM
New home closings declined year-over-year in January in the Amarillo, TX market, shifting downward off a bump in December 2013. Closings dropped 31.0% from a year earlier to 20. This followed a 10.3% boost year-over-year in December.
A total of 401 new homes were sold during the 12 months that ended in January, down from 410 for the year that ended in December.
As a percentage of overall housing closings, new home closings represented 5.7%. This is a decline 8.9% of closings a year earlier. Following a fall in December year-over-year, closings of new and existing homes gained year-over-year in January.
Pricing and Mortgage Trends
The average price of new homes fell 20.0% year-over-year in January to $193,545 per unit. This fall is larger than the 2.7% drop in December from a year earlier.
The average mortgage size on newly sold homes dropped year-over-year in contrast to the average price of new homes. In January 2014, average mortgage size on new homes sold was $166,133, down 20.3% from a year earlier. Average mortgage size climbed 1.2% in December 2013 from a year earlier.