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Dallas, TX Local News

Dallas, TX - Recent Figures for New Home Sales Suggest Climb Gaining Steam

Posted on: May 06, 2012 09:22:50 AM

Sales of new homes in the Dallas, TX market climbed year-over-year in February, and the percentage gain was better than January 2012, suggesting the market may be strengthening. Sales gained 20.4% from a year earlier to 969, compared with a 6.3% rise in January from the year earlier.

A total of 13,054 new homes were sold during the 12 months that ended in February, up from 12,890 for the year that ended in January.

Of the total number of sales, new home sales made up 10.9%. A year ago, new home sales accounted for 10.4%. Following a decline in January year-over-year, sales of new and existing homes increased year-over-year in February.

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Pricing and Mortgage Trends

The average per-unit value of new homes declined year-over-year to $239,545 in February, a decline of 1.3% from a year earlier. This decline a drop off from the 1.5% decline in January from a year earlier.

The average mortgage size on newly sold homes moved south year-over-year in contrast to new home prices. It fell 1.6% in February from a year earlier, reaching $211,824. In January 2012, average mortgage size on newly sold homes saw a 1.9% decline from a year earlier. On aveage, the percentage of new home sale price that was being financed went from 88.8% of average price to 88.4% from a year earlier. It moved from 88.0% in January 2011 to 87.6% in January 2012.

 
 
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