New Home Sales and Prices Both Climb in Corpus Christi According to Freshest Data
Posted on: Apr 06, 2014 07:10:00 AM
New home closings in the Corpus Christi, TX market climbed year-over-year in January, and the percentage rise that was sharper than December 2013 seems to indicate improving market conditions. Closings gained 19.5% from a year earlier to 49. In comparison, new home closings in the same month last year saw a 13.3% jump year-over-year in December.
A total of 748 new homes were sold during the 12 months that ended in January, up from 740 for the year that ended in December.
New home closings represented 8.3% of overall housing closings. A year ago, 7.6% of total closings were new home closings. Following a fall in December year-over-year, closings of new and existing homes grew year-over-year in January.
Pricing and Mortgage Trends
The average price of newly sold homes gained year-over-year 17.4% in January to $243,969 per unit. This bump is higher than the 1.3% rise in December year-over-year.
The average mortgage size on new homes moved north year-over-year along with new home prices. It climbed to $214,679 in January, a 15.8% boost. In December 2013, average mortgage size increased 1.0% from a year earlier.