New Home Closings and Prices in Killeen Climb According to Latest Figures
Posted on: May 06, 2013 07:18:39 AM
The Killeen, TX market saw a rise in new home closings in February year-over-year, rising after a decline in January 2013. Closings increased 4.4% from a year earlier to 95, relative to a 7.6% decline in January from the year earlier.
A total of 1,402 new homes were sold during the 12 months that ended in February, up from 1,398 for the year that ended in January.
New home closings accounted for 19.3% of overall housing closings. This marks a rise from 17.2% of total closings a year earlier. For new and existing homes, closings slipped in February after also declining in January year-over-year.
Pricing and Mortgage Trends
Average price of newly sold homes had a 4.5% rise year-over-year to $185,637 per unit in February. This rise is smaller than the 9.7% rise in January year-over-year.
The average mortgage size on newly sold homes increased year-over-year along with the average price of new homes. The average mortgage size saw a 5.6% rise year-over-year to $185,366 in February. In January 2013, average mortgage size on newly sold homes saw a 9.1% rise year-over-year from a year earlier. On average, the percentage of new home sale price being financed saw a 1.0 percentage point rise from a year earlier. It went from 98.2% in January 2012 to 97.7% in January 2013.