Newest Numbers Show New Home Sales Fall in McAllen
Posted on: Mar 06, 2014 07:26:32 AM
Closings of new homes in the McAllen, TX market slid year-over-year in December, a move downward following a boost in November 2013. There was a 14.0% fall in new home closings from a year earlier. This followed a 83.9% jump year-over-year in November.
A total of 574 new homes were sold during the 12 months that ended in December, down from 582 for the year that ended in November.
Out of all housing closings, new home closings made up 7.3%. This is a drop 9.1% of closings a year earlier. Following a year-over-year increase in November, closings of new and existing homes also jumped year-over-year in December.
Pricing and Mortgage Trends
The average price of new homes went from $167,046 in December 2012 to $168,560 in December 2013. This came after a 13.0% fall in November from a year earlier.
For newly sold homes, the average mortgage size saw a gain year-over-year along with new home prices. The average mortgage size saw a 2.4% rise year-over-year to $152,202 in December. Average mortgage size fell 5.1% in November 2013 from a year earlier.