Amarillo, TX - Local Housing Data - Summary

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Amarillo, TX Local News

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.

 
 
 

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