Latest Numbers Show Prices of New Homes Gain in Brownsville, Sales Decline
Posted on: Apr 06, 2014 07:05:53 AM
In the Brownsville, TX market in December, new home closings slid year-over-year, and the decline was by a larger percentage than the November 2013. New home closings moved from 23 a year earlier to 10 after the figure moved from 27 in November 2012 to 17 in November 2013.
A total of 170 new homes were sold during the 12 months that ended in December, down from 183 for the year that ended in November.
New home closings were 10 out of the 343 total closings, down on a percentage basis from 23 of 438 a year earlier. For new and existing homes, closings fell in December after also declining in November year-over-year.
Pricing and Mortgage Trends
The average price of new homes rose to $144,616 from last year's $128,653. This followed a 4.2% hike in November year-over-year.
Average mortgage size on new homes went from $118,640 a year earlier to $133,582. Average mortgage size went from $142,928 in November 2012 to $142,011 in November 2013.