Newest Figures Show New Home Sales and Prices Decrease in Longview
Posted on: May 06, 2013 07:21:32 AM
In the Longview, TX market in February, closings of new homes declined year-over-year, and the decline was by a larger percentage than the January 2013. New home closings moved from 10 a year earlier to four after the figure moved from two in January 2012 to one in January 2013.
A total of 80 new homes were sold during the 12 months that ended in February, down from 86 for the year that ended in January.
New home closings were four of the 187 total closings, down on a percentage basis from 10 of 219 a year earlier. Closings of new and existing homes fell year-over-year in February after also falling in January year-over-year.
Pricing and Mortgage Trends
The average per-unit price of new homes was $190,546 in February 2013, moving south from $226,406 a year earlier. This came after a 85.0% lift in January year-over-year.
The average mortgage size went down to $173,787 from $191,023 a year earlier. Average mortgage size on new homes went from $70,820 in January 2012 to $154,156 in January 2013. Of the overall sale price, the percentage that was being financed rose 6.8 percentage points year-over-year to 91.2% in February 2013. This was another boost after January 2013 when there was a 14.9 percentage point surge from a year earlier.