New Home Prices Rise in San Antonio According to Newest Figures, Sales Drop
Posted on: Mar 07, 2013 07:33:22 AM
In the San Antonio, TX market in December, closings of new homes fell year-over-year, a shift downward off a rise in November 2012. New home closings saw a decline of 2.0% from the year earlier to 601. This came after a 5.5% rise year-over-year in November.
A total of 6,830 new homes were sold during the 12 months that ended in December, down from 6,842 for the year that ended in November.
As a percentage of overall housing closings, new home closings made up 18.6% of overall housing closings. New home closings were 18.3% of overall closings last year. After rising year-over-year in November, closings of new and existing homes slipped year-over-year in December.
Pricing and Mortgage Trends
The average price of newly sold homes rose year-over-year 9.0% in December to $247,031 per unit. This rise is an improvement over the 6.3% rise in November year-over-year.
For newly sold homes, the average mortgage size saw a rise year-over-year along with new home prices. It increased 6.8% in December from a year earlier to $224,188. Average mortgage size rose 4.7% in November 2012 from a year earlier. For new home closings, the percentage of the sale price that was being financed dipped 1.9 percentage points year-over-year to 90.8% in December 2012.