Freshest Figures Show New Home Sales and Prices Climb in Odessa
Posted on: Nov 12, 2013 07:34:15 AM
In the Odessa, TX market, new home closings increased year-over-year in August, and the percentage rise was sharper than July 2013, hinting that the market may be strengthening. New home closings saw a boost of 91.7% from the year earlier to 46. This came after a 89.5% climb year-over-year in July.
A total of 368 new homes were sold during the 12 months that ended in August, up from 346 for the year that ended in July.
Out of all housing closings, new home closings accounted for 19.0%. This is a rise from 11.1% of closings a year earlier. For new and existing homes, closings climbed year-over-year in August after also increasing in July year-over-year.
Pricing and Mortgage Trends
In August, the average price of newly sold homes grew 12.3% year-over-year to $211,431 per unit. This boost is better than the 11.9% rise in July year-over-year.
For newly sold homes, the average mortgage size climbed year-over-year along with new home prices. It climbed 11.4% in August from a year earlier to $190,222. In July 2013, average mortgage size jumped 10.9% from a year earlier.