New Home Sales and Prices Both Rise in Brownsville According to Newest Data
Posted on: Jul 06, 2014 07:04:53 AM
In March, closings of new homes in the Brownsville, TX market grew year-over-year, and the increase was greater than February 2014. New home closings moved from 17 a year earlier to 21 after the figure moved from 14 in February 2013 to 17 in February 2014.
A total of 190 new homes were sold during the 12 months that ended in March, up from 186 for the year that ended in February.
New home closings accounted for 5.8% of overall housing closings. This is an increase on a percentage basis, as new home closings were 3.3% of total closings a year ago. Closings of new and existing homes fell year-over-year in March after also falling in February year-over-year.
Pricing and Mortgage Trends
The average per-unit price of newly sold homes climbed year-over-year to $152,294 in March, up 29.6% from last year. This hike compares to a 24.6% decline in February from a year earlier.
There was a boost year-over-year in the average mortgage size on new homes along with new home prices. It grew 26.2% in March from a year earlier to $141,457. Average mortgage size on new homes went from $154,313 in February 2013 to $119,835 in February 2014.