Latest Numbers Indicate New Home Closings and Prices Decline in Tyler
Posted on: Jul 06, 2014 07:37:37 AM
In the Tyler, TX market in April, new home closings slid year-over-year, but the decline was less than the year-over-year decline in March. New home closings moved from 13 a year earlier to 11 after the figure moved from 13 in March 2013 to 8 in March 2014.
A total of 172 new homes were sold during the 12 months that ended in April, down from 174 for the year that ended in March.
New home closings were 11 out of the 283 total closings, a move on a percentage basis from 13 of 273 a year earlier. Closings of new and existing homes jumped year-over-year in April following a decline in March year-over-year.
Pricing and Mortgage Trends
The average value of newly sold homes in April 2014 was $201,978, down from last year's $205,519. This followed a 12.0% surge in March year-over-year.
Average mortgage size on newly sold homes saw a decline year-over-year from $177,880 to $166,413. Average mortgage size on new homes went from $175,170 in March 2013 to $187,791 in March 2014.