Freshest Numbers Indicate New Home Closings and Prices Decrease in Amarillo
Posted on: Aug 08, 2014 11:06:36 AM
In May, there was a drop year-over-year in new home closings in the Amarillo, TX market, but the decline was less than the year-over-year decline in April. New home closings moved from 24 a year earlier to 13 after the figure moved from 36 in April 2013 to 7 in April 2014.
A total of 238 new homes were sold during the 12 months that ended in May, down from 249 for the year that ended in April.
On a percentage basis, new home closings as a part of total closings decreased to 2.5% from 4.4% a year earlier. For new and existing homes, closings declined in May after also declining in April year-over-year.
Pricing and Mortgage Trends
The average per-unit price of new homes was $217,882, compared with $244,224 last year. This was on the heels of a 33.4% drop in April from a year earlier.
Average mortgage size on newly sold homes saw a decline year-over-year from $207,085 to $180,060. Average mortgage size on new homes went from $219,791 in April 2013 to $155,820 in April 2014.