Freshest Numbers Show New Home Closings Gain in Beaumont, Prices Drop
Posted on: May 06, 2013 07:03:26 AM
Closings of new homes in the Beaumont, TX market increased year-over-year in February, rebounding from a year-over-year decline in January 2013. New home closings moved from 13 a year earlier to 15 after the figure moved from 15 in January 2012 to 14 in January 2013.
A total of 174 new homes were sold during the 12 months that ended in February, up from 172 for the year that ended in January.
New home closings were 15 out of the 468 total closings, a move on a percentage basis from 13 of 470 a year earlier. For new and existing homes, closings slipped in February after also declining in January year-over-year.
Pricing and Mortgage Trends
The average new home price was $208,595 in February 2013, down from $213,583 a year earlier. This came after a 24.3% hike in January year-over-year.
Average mortgage size on new homes rose from $176,166 to $179,686. Average mortgage size on new homes went from $156,448 in January 2012 to $206,007 in January 2013. The overall percentage of sale price that was being financed rose 3.7 percentage points year-over-year to 86.1% in February 2013.