Latest Numbers For Laredo Show New Home Closings and Prices Gain
Posted on: Apr 06, 2014 07:22:48 AM
In the Laredo, TX market, closings of new homes climbed year-over-year in December, but the increased on a percentage basis less sharlpy than November 2013, showing signs of market stabilization. New home closings saw a 8.2% climb from a year earlier to 53. This followed a 26.2% climb year-over-year in November.
A total of 554 new homes were sold during the 12 months that ended in December, up from 550 for the year that ended in November.
New home closings accounted for 21.9% of overall housing closings. This marks a rise from 18.4% of total closings a year earlier. Following a year-over-year decline in November, closings of new and existing homes also slid year-over-year in December.
Pricing and Mortgage Trends
The average price of newly sold homes grew year-over-year 4.0% in December to $201,142 per unit. This hike is smaller than the 8.2% surge in November year-over-year.
In December 2013, average mortgage size on new homes went from $185,138 in December 2012 to $184,450 in December 2013. In November 2013, average mortgage size gained 7.2% from a year earlier.