New Home Sales Climb in Waco, Prices Decrease According to Latest Data
Posted on: Apr 06, 2014 07:44:56 AM
There was a rise in closings of new homes in the Waco, TX market in January year-over-year, snapping back from a decline in December 2013. New home closings saw a 12.5% hike from a year earlier to 18. This was after the housing market saw a 9.5% fall year-over-year in December.
A total of 307 new homes were sold during the 12 months that ended in January, up from 305 for the year that ended in December.
Out of all housing closings, new home closings represented 6.7%. A year ago, 6.5% of total closings were new home closings. Closings of new and existing homes grew year-over-year in January following a decline in December year-over-year.
Pricing and Mortgage Trends
The average per-unit value of new homes dropped year-over-year to $156,729 in January, a drop of 25.7% from a year earlier. This drop is larger than the 10.6% decline in December from a year earlier.
Average mortgage size on new homes declined year-over-year in contrast to new home prices. It sank 13.3% in January from a year earlier, reaching $140,443. In December 2013, average mortgage size fell 10.3% from a year earlier.