Prices of New Homes Rise in Corpus Christi, Sales Decrease According to Freshest Data
Posted on: Jul 06, 2014 07:08:40 AM
In the Corpus Christi, TX market in April, closings of new homes fell year-over-year, and the market seemed to be weakening with a percentage fall steeper than in March 2014. New home closings saw a decline of 26.3% from the year earlier to 56. This came after a 13.7% drop year-over-year in March.
A total of 763 new homes were sold during the 12 months that ended in April, down from 783 for the year that ended in March.
Out of all housing closings, new home closings made up 7.7%. This is down from the a year earlier when new home closings accounted for 9.0% of total closings. Closings of new and existing homes saw a decline year-over-year in April after remaining steady in March year-over-year.
Pricing and Mortgage Trends
For newly sold homes, the average price climbed 5.9% year-over-year in April to $226,416 per unit. This rise is smaller than the 17.4% hike in March year-over-year.
The average mortgage size on newly sold homes climbed year-over-year along with the average price of new homes. Average mortgage size jumped 14.4% to $200,092 in April from a year earlier. In March 2014, average mortgage size on newly sold homes saw a 26.6% hike year-over-year from a year earlier.