Recent Figures Show New Home Sales and Prices Gain in Corpus Christi
Posted on: Dec 06, 2013 07:11:29 AM
In the Corpus Christi, TX market in September, closings of new homes climbed year-over-year, and there were signs that the market may be gaining momentum as the percentage gain proved better than August 2013. New home closings saw a jump of 42.5% from the year earlier to 57. This followed a 25.5% hike year-over-year in August.
A total of 743 new homes were sold during the 12 months that ended in September, up from 726 for the year that ended in August.
Out of all housing closings, new home closings made up 8.3%. This is an increase on a percentage basis, as new home closings were 6.0% of total closings a year ago. Closings of new and existing homes jumped year-over-year in September following a fall in August year-over-year.
Pricing and Mortgage Trends
In September, there was a 7.0% gain year-over-year in the average price of newly sold homes, reaching $227,065 per unit. This rise compares to a 3.4% decline in August from a year earlier.
The average mortgage size on newly sold homes moved south year-over-year in contrast to new home prices. In September 2013, average mortgage size declined 3.4% from a year earlier to $185,132. Average mortgage size sank 4.1% in August 2013 from a year earlier.