New Home Sales and Prices Decline in Victoria - August 2014
Posted on: Aug 09, 2014 07:02:46 AM
Closings of new homes declined year-over-year in April in the Victoria, TX market, and the decline was by a larger percentage than the March 2014. New home closings moved from 6 a year earlier to 2 after the figure moved from 2 in March 2013 to 1 in March 2014.
A total of 32 new homes were sold during the 12 months that ended in April, down from 36 for the year that ended in March.
New home closings represented 2 out of the 164 total closings, which is a smaller percentage than the 6 of 184 total closings a year earlier. Following a year-over-year increase in March, closings of new and existing homes sank year-over-year in April.
Pricing and Mortgage Trends
The average new home price was $251,250, down from $257,243 a year earlier. This came after a 8.7% fall in March from a year earlier.
There was a decline in average mortgage size on new homes, going from $205,794 last year to $201,000 in April 2014. Average mortgage size on new homes went from $255,538 in March 2013 to $233,345 in March 2014.