New Home Sales Climb in Waco, Prices Decline According to Recent Data
Posted on: Jul 06, 2014 07:38:41 AM
New home closings in the Waco, TX market gained year-over-year in April, and with a more robust bump than March 2014, there are signals the market may be strengthening. Closings climbed 75.0% from a year earlier to 28. In comparison, new home closings in the same month last year saw a 7.7% boost year-over-year in March.
A total of 319 new homes were sold during the 12 months that ended in April, up from 307 for the year that ended in March.
Of 436 total closings, 28 were of new homes. This is a lift from 4.1% of closings a year earlier. Closings of new and existing homes gained year-over-year in April after also rising in March year-over-year.
Pricing and Mortgage Trends
The average price of new homes dropped by 18.8% year-over-year to $200,263 per unit in April. This decline is larger than the 4.1% drop in March from a year earlier.
For newly sold homes, the average mortgage size sank year-over-year in contrast to average price of new homes. In April 2014, there was a 5.2% decline in the average mortgage size on new homes to $195,017. In March 2014, average mortgage size on newly sold homes saw a 13.6% drop from a year earlier.