Latest Figures Show New Home Sales Level from Last Year, Prices Drop in Victoria
Posted on: May 06, 2013 07:38:07 AM
New home closings in the Victoria, TX market were unchanged year-over-year in January, staying flat after advancing year-over-year in December from the year earlier. Closings remained level at six from a year earlier after the figure moved from eight in December 2011 to nine in December 2012.
A total of 72 new homes were sold during the 12 months that ended in January, equal to the number of new homes sold for the year that ended in December.
Six of the 94 total closings were new home closings, a shift on a percentage basis from six out of 108 a year earlier. Closings of new and existing homes fell year-over-year in January after also falling in December year-over-year.
Pricing and Mortgage Trends
The average new home price was $247,757, down from $256,734 a year earlier. This came after a 2.6% decline in December from a year earlier.
Average mortgage size on new homes increased to $218,874 from $205,388 last year. Average mortgage size on new homes went from $226,063 in December 2011 to $215,512 in December 2012. Of the overall sale price, the percentage that was being financed increased 8.3 percentage points year-over-year to 88.3% in January 2013. In December 2012, there was a 1.8 percentage point decline in December from a year earlier.