New Home Sales and Prices Drop in Waco According to Recent Data
Posted on: Mar 06, 2014 07:45:01 AM
Closings of new homes in the Waco, TX market slid year-over-year in December, sliding down after a lift in November 2013. Closings declined 9.5% from a year earlier to 19. This followed a 5.0% hike year-over-year in November.
A total of 306 new homes were sold during the 12 months that ended in December, down from 308 for the year that ended in November.
New home closings, which accounted for 5.7% of overall closings, were relatively stable compared with a year earlier. After rising year-over-year in November, closings of new and existing homes slid year-over-year in December.
Pricing and Mortgage Trends
The average price of new homes declined 10.6% year-over-year in December to $197,389 per unit. This decline compares to a 3.5% rise in November year-over-year.
The average mortgage size on newly sold homes saw a drop year-over-year in contrast to new home prices. In December 2013, average mortgage size dropped 10.3% from a year earlier to $174,591. Average mortgage size fell 1.5% in November 2013 from a year earlier.