Newest Numbers Show Prices of New Homes Gain in Victoria, Sales Decline
Posted on: Apr 06, 2014 07:44:16 AM
Closings of new homes sank year-over-year in December in the Victoria, TX market, sliding after a growth in November 2013. New home closings moved from 10 a year earlier to 7 after the figure moved from 8 in November 2012 to 11 in November 2013.
A total of 97 new homes were sold during the 12 months that ended in December, down from 100 for the year that ended in November.
New home closings represented 7 out of the 140 total closings, which is a smaller percentage than the 10 of 152 total closings a year earlier. Following a year-over-year rise in November, closings of new and existing homes declined year-over-year in December.
Pricing and Mortgage Trends
The average price of new homes was $263,481, an increase from $259,285 a year earlier. This followed a 5.8% decline in November from a year earlier.
From the year-ago figure of $212,723, the average mortgage size on new homes moved up to $233,229. Average mortgage size on new homes went from $219,682 in November 2012 to $215,735 in November 2013.