Freshest Numbers Show New Home Closings Rise in Wichita Falls, Prices Decline
Posted on: Jul 06, 2014 07:39:29 AM
There was a rise in closings of new homes in the Wichita Falls, TX market in April year-over-year, rebounding from a year-over-year decline in March 2014. New home closings moved from 2 a year earlier to 5 after the figure moved from 5 in March 2013 to 3 in March 2014.
A total of 47 new homes were sold during the 12 months that ended in April, up from 44 for the year that ended in March.
New home closings were 5 of the 163 total closings, up on a percentage basis from 2 of 241 a year earlier. Following a period of little movement in March from a year earlier, closings of new and existing homes slid year-over-year in April.
Pricing and Mortgage Trends
The average per-unit price of new homes was $216,788, compared with $290,356 last year. This came after a 40.4% decline in March from a year earlier.
Average mortgage size on new homes fell from $232,285 to $183,332. Average mortgage size on new homes went from $231,875 in March 2013 to $145,717 in March 2014.