Recent Numbers Show New Home Closings Climb in Amarillo, Prices Fall
Posted on: Mar 06, 2014 07:01:07 AM
New home closings in the Amarillo, TX market grew year-over-year in December, but as the percentage rose less than November 2013, the market seemed to show signs of leveling. New home closings saw a boost of 10.3% from the year earlier to 43. This was after the housing market saw a 11.5% hike year-over-year in November.
A total of 410 new homes were sold during the 12 months that ended in December, up from 406 for the year that ended in November.
Out of all housing closings, new home closings represented 9.7%. This is an increase on a percentage basis, as new home closings were 8.0% of total closings a year ago. Following a year-over-year rise in November, closings of new and existing homes fell year-over-year in December.
Pricing and Mortgage Trends
Average value of new homes sold in December was $226,691 per unit, down 2.7% from a year earlier. This fall compares to a 11.8% boost in November year-over-year.
Average mortgage size on new homes increased year-over-year in contrast to new home prices. In December 2013, there was a 1.2% rise in the average mortgage size, reaching $201,461. Average mortgage size gained 10.7% in November 2013 from a year earlier.