New Home Prices Increase in San Antonio According to Latest Figures, Sales Fall
Posted on: May 06, 2013 07:32:41 AM
In the San Antonio, TX market in February, new home closings slipped year-over-year, a shift downward off a bump in January 2013. Closings declined 1.8% from a year earlier to 493. This was after the housing market saw a 21.6% hike year-over-year in January.
A total of 6,979 new homes were sold during the 12 months that ended in February, down from 6,988 for the year that ended in January.
Of the total number of closings, new home closings made up 17.6%. They accounted for 17.3% of closings a year earlier. Following a year-over-year increase in January, closings of new and existing homes dipped year-over-year in February.
Pricing and Mortgage Trends
The average price of new homes rose year-over-year 6.5% in February to $237,983 per unit. This rise is better than the 3.1% rise in January year-over-year.
There was a rise year-over-year in the average mortgage size on new homes along with new home prices. The average mortgage size rose to $216,323 in February, marking a 4.8% rise compared with a year earlier. In January 2013, average mortgage size increased 1.1% from a year earlier. For new home closings, the percentage of the sale price that was being financed declined 1.5 percentage points year-over-year to 90.9% in February 2013.