New Home Closings and Prices in Beaumont Decrease According to Newest Figures
Posted on: Apr 06, 2014 07:04:02 AM
In the Beaumont, TX market in January, closings of new homes declined year-over-year, a decline following a rise in December 2013. New home closings moved from 15 a year earlier to 14 after the figure moved from 13 in December 2012 to 22 in December 2013.
A total of 234 new homes were sold during the 12 months that ended in January, down from 235 for the year that ended in December.
14 of the 413 total closings were new home closings, a shift on a percentage basis from 15 out of 398 a year earlier. For new and existing homes, closings climbed year-over-year in January after also increasing in December year-over-year.
Pricing and Mortgage Trends
The average value of newly sold homes in January 2014 was $219,936, down from last year's $232,275. This was on the heels of a 25.1% decline in December from a year earlier.
There was a decline in average mortgage size on new homes, going from $208,506 last year to $189,976 in January 2014. Average mortgage size on new homes went from $213,173 in December 2012 to $166,279 in December 2013.