Latest Numbers For Houston Show New Home Closings and Prices Gain
Posted on: Dec 06, 2013 07:21:39 AM
There was a rise in new home closings in the Houston, TX market in September year-over-year, and the percentage hike was sharper than August 2013, hinting that the market may be strengthening. There was a 20.6% rise in new home closings from a year earlier. This followed a 18.1% climb year-over-year in August.
A total of 22,925 new homes were sold during the 12 months that ended in September, up from 22,580 for the year that ended in August.
Of 10,789 total closings, 2,019 were of new homes. This marks a rise from 17.5% of total closings a year earlier. For new and existing homes, closings climbed year-over-year in September after also increasing in August year-over-year.
Pricing and Mortgage Trends
The average price of new homes was $280,697 per unit in September, up 11.6%from a year earlier. This gain is better than the 6.8% lift in August year-over-year.
For newly sold homes, the average mortgage size rose year-over-year along with new home prices. The average mortgage size saw a 10.2% lift year-over-year to $240,970 in September. In August 2013, average mortgage size increased 6.4% from a year earlier.