Hot Springs, AR - Recent New Home Sales Figures Climb
Posted on: May 07, 2012 09:16:57 AM
Sales of new homes in the Hot Springs, AR market jumped year-over-year in February, moving up after staying consistent in January from the year earlier. Sales stood at eight in February after being seven a year earlier and the figure was unchanged at five in January from a year earlier.
A total of 80 new homes were sold during the 12 months that ended in February, up from 79 for the year that ended in January.
New home sales were eight out of the 103 total sales, a move on a percentage basis from seven of 93 a year earlier. For new and existing homes, sales grew year-over-year in February after also increasing in January year-over-year.
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Pricing and Mortgage Trends
The average per-unit price of new homes was $182,000 in February 2012, up from $155,000 a year ago. This was on the heels of a 29.3% decline in January from a year earlier.
Average mortgage size on newly sold homes saw a decline year-over-year from $183,721 to $176,033. Average mortgage size on new homes went from $204,206 in January 2011 to $92,313 in January 2012.
Hot Springs, AR - Recent New Home Sales Figures Climb
Posted on: May 07, 2012 09:16:57 AM
Sales of new homes in the Hot Springs, AR market jumped year-over-year in February, moving up after staying consistent in January from the year earlier. Sales stood at eight in February after being seven a year earlier and the figure was unchanged at five in January from a year earlier.
A total of 80 new homes were sold during the 12 months that ended in February, up from 79 for the year that ended in January.
New home sales were eight out of the 103 total sales, a move on a percentage basis from seven of 93 a year earlier. For new and existing homes, sales grew year-over-year in February after also increasing in January year-over-year.
Pricing and Mortgage Trends
The average per-unit price of new homes was $182,000 in February 2012, up from $155,000 a year ago. This was on the heels of a 29.3% decline in January from a year earlier.
Average mortgage size on newly sold homes saw a decline year-over-year from $183,721 to $176,033. Average mortgage size on new homes went from $204,206 in January 2011 to $92,313 in January 2012.
Other Market Trends
There was no change in the composition of the new-home market with regard to the types of properties sold in February 2012. Single-family homes continued to account for all of new home sales.
Foreclosures and real estate owned (REO) sales did not look to be a burden on the market. Together, foreclosures plus REO sales accounted for 23.2% of existing home sales. They made up 32.6% in February 2011. The percentage of existing home sales involving foreclosures rose to 12.6% in February from 10.5% a year earlier while REO sales as a percentage of existing home sales fell to 10.5% from 22.1% a year earlier.
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Source: Housing Intelligence