Victoria, TX - Recent Figures for New Home Sales Suggest Climb Gaining Steam
Posted on: May 07, 2012 09:54:06 AM
There was an increase in new home sales in the Victoria, TX market in January year-over-year, and the increase was greater than December 2011. New home sales moved from one a year earlier to six after the figure moved from five in December 2010 to eight in December 2011.
A total of 70 new homes were sold during the 12 months that ended in January, up from 65 for the year that ended in December.
New home sales were six of the 103 total sales, up on a percentage basis from one of 104 a year earlier. After rising year-over-year in December, sales of new and existing homes fell year-over-year in January.
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Pricing and Mortgage Trends
The average per-unit price of new homes was $256,734 in January 2012, up from $199,750 a year ago. This came after a 17.8% fall in December from a year earlier.
Average mortgage size on new homes rose from $159,800 to $205,388. Average mortgage size on new homes went from $261,882 in December 2010 to $226,063 in December 2011. For new home sales, the percentage of the sale price that was being financed was relatively unchanged from January 2011 to January 2012 at 80.0%. In December, the figure saw a 4.0 percentage point rise from a year earlier.
Victoria, TX - Recent Figures for New Home Sales Suggest Climb Gaining Steam
Posted on: May 07, 2012 09:54:06 AM
There was an increase in new home sales in the Victoria, TX market in January year-over-year, and the increase was greater than December 2011. New home sales moved from one a year earlier to six after the figure moved from five in December 2010 to eight in December 2011.
A total of 70 new homes were sold during the 12 months that ended in January, up from 65 for the year that ended in December.
New home sales were six of the 103 total sales, up on a percentage basis from one of 104 a year earlier. After rising year-over-year in December, sales of new and existing homes fell year-over-year in January.
Pricing and Mortgage Trends
The average per-unit price of new homes was $256,734 in January 2012, up from $199,750 a year ago. This came after a 17.8% fall in December from a year earlier.
Average mortgage size on new homes rose from $159,800 to $205,388. Average mortgage size on new homes went from $261,882 in December 2010 to $226,063 in December 2011. For new home sales, the percentage of the sale price that was being financed was relatively unchanged from January 2011 to January 2012 at 80.0%. In December, the figure saw a 4.0 percentage point rise from a year earlier.
Other Market Trends
There was no change in the composition of the new-home market with regard to the types of properties sold in January 2012. Single-family homes continued to account for all of new home sales.
Foreclosures and real estate owned (REO) sales did not look to be a burden on the market. Out of all existing home sales, foreclosures combined with REO sales represented 24.7% of sales. They accounted for 29.1% in January 2011. The percentage of existing home sales involving foreclosures slipped to 12.4% in January from 13.6% a year earlier while REO sales as a percentage of existing home sales dipped to 12.4% from 15.5% a year earlier.
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Source: Housing Intelligence