New Home Prices Gain in Tyler According to Newest Figures, Sales Decline
Posted on: May 06, 2013 07:37:33 AM
Closings of new homes in the Tyler, TX market dropped year-over-year in February, dropping after a year-over-year increase in January 2013. New home closings moved from 12 a year earlier to five after the figure moved from nine in January 2012 to 10 in January 2013.
A total of 125 new homes were sold during the 12 months that ended in February, down from 132 for the year that ended in January.
Out of 229 total closings, five were of new homes, which makes up a smaller percentage than the 12 out of 240 total closings last year. After rising year-over-year in January, closings of new and existing homes declined year-over-year in February.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $181,639 from $175,606 a year ago. This followed a 33.8% lift in January year-over-year.
Average mortgage size on new homes fell from $153,325 to $145,311. Average mortgage size on new homes went from $158,908 in January 2012 to $216,208 in January 2013. Of the overall sale price, the percentage that was being financed slipped 7.3 percentage points year-over-year to 80.0% in February 2013. This came after a 1.3 percentage point rise in January from a year earlier.