Newest Numbers For Waco Show New Home Closings and Prices Climb
Posted on: Aug 08, 2014 11:55:36 AM
Closings of new homes jumped year-over-year in May in the Waco, TX market, but the increase was less than April 2014. New home closings moved from 12 a year earlier to 18 after the figure moved from 7 in April 2013 to 18 in April 2014.
A total of 169 new homes were sold during the 12 months that ended in May, up from 163 for the year that ended in April.
New home closings were 18 out of 482 total closings, making up 3.7%. This is up on a percentage basis from 12 of 454 a year earlier. Following a year-over-year increase in April, closings of new and existing homes also gained year-over-year in May.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $211,574 from $190,762 a year ago. This came after a 25.0% drop in April from a year earlier.
Average mortgage size on new homes rose from $166,788 to $181,107. Average mortgage size on new homes went from $217,651 in April 2013 to $191,911 in April 2014.