Freshest Numbers For Laredo Show New Home Closings and Prices Climb
Posted on: Mar 06, 2014 07:23:02 AM
The Laredo, TX market saw a rise in new home closings in November year-over-year, and there were signals that the market may be improving as the percentage hike was better than October 2013. New home closings saw a 26.2% jump from a year earlier to 53. This followed a 18.8% boost year-over-year in October.
A total of 550 new homes were sold during the 12 months that ended in November, up from 539 for the year that ended in October.
Of 289 total closings, 53 were of new homes. This marks a rise from 13.8% of total closings a year earlier. After rising year-over-year in October, closings of new and existing homes fell year-over-year in November.
Pricing and Mortgage Trends
In November, there was a 8.2% bump year-over-year in the average price of newly sold homes, reaching $195,439 per unit. This lift compares to a 1.1% decline in October from a year earlier.
For newly sold homes, the average mortgage size climbed year-over-year along with new home prices. In November 2013, average mortgage size climbed 7.2% from a year earlier to $182,843. Average mortgage size sank 1.3% in October 2013 from a year earlier.