Freshest Figures Indicate New Home Closings in San Antonio Drop
Posted on: Aug 08, 2014 11:47:26 AM
In the San Antonio, TX market in May, closings of new homes declined year-over-year, moving south after minimal change in April from the year earlier. New home closings declined by 9.2% from last year to 673. Closings remained the same in April from the year earlier.
A total of 7,682 new homes were sold during the 12 months that ended in May, down from 7,750 for the year that ended in April.
New home closings accounted for 15.7% of overall housing closings. This is down from the 17.2% of closings a year earlier. After being steady in April from a year earlier, closings of new and existing homes remained level in May.
Pricing and Mortgage Trends
The average value for new homes sold in May 2014 was $254,652, a move from $252,877 a year earlier. This followed a 10.3% boost in April year-over-year.
In May 2014, average mortgage size on newly sold homes moved from $232,580 to $232,214 from May 2013. In April 2014, average mortgage size on newly sold homes saw a 10.4% hike year-over-year from a year earlier.