Latest Numbers For Killeen Show New Home Closings and Prices Rise
Posted on: Dec 06, 2013 07:24:13 AM
Closings of new homes grew year-over-year in September in the Killeen, TX market, moving upward off a drop in August 2013. This year's new home closings climbed from last year by 24.6%, reaching 142. This followed a move from 142 in August 2012 to 114 in August 2013.
A total of 1,497 new homes were sold during the 12 months that ended in September, up from 1,469 for the year that ended in August.
Of 600 total closings, 142 were of new homes. This is an increase on a percentage basis, as new home closings were 19.9% of total closings a year ago. For new and existing homes, closings increased year-over-year in September after also increasing in August year-over-year.
Pricing and Mortgage Trends
In September, the average price of newly sold homes increased year-over-year to $193,618 per unit, a 5.5% surge. This rise is an improvement over the 3.2% lift in August year-over-year.
Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. The average mortgage size rose to $185,788 in September, marking a 4.3% lift compared with a year earlier. It went from $183,200 to $182,354 from August 2012 to August 2013.