New Home Sales and Prices Drop in San Angelo According to Latest Data
Posted on: Aug 08, 2014 11:47:16 AM
In the San Angelo, TX market, new home closings fell year-over-year in May, and the decline was by a larger percentage than the April 2014. New home closings moved from 10 a year earlier to 1 after the figure moved from 13 in April 2013 to 2 in April 2014.
A total of 67 new homes were sold during the 12 months that ended in May, down from 76 for the year that ended in April.
On a percentage basis, new home closings as a part of total closings decreased to 0.6% from 4.0% a year earlier. Following a year-over-year decline in April, closings of new and existing homes also slid year-over-year in May.
Pricing and Mortgage Trends
The average new home price was $169,900, down from $186,213 a year earlier. This came after a 8.9% decline in April from a year earlier.
Average mortgage size on new homes fell from $179,474 to $135,920. Average mortgage size on new homes went from $188,932 in April 2013 to $176,375 in April 2014.