New Home Sales and Prices Both Rise in Wichita Falls According to Newest Data
Posted on: May 06, 2013 07:39:31 AM
In the Wichita Falls, TX market in February, closings of new homes grew year-over-year, rebounding from a year-over-year decline in January 2013. New home closings moved from two a year earlier to three after the figure moved from six in January 2012 to three in January 2013.
A total of 51 new homes were sold during the 12 months that ended in February, up from 50 for the year that ended in January.
New home closings were three out of 133 total closings, making up 2.3%. This is up on a percentage basis from two of 226 a year earlier. For new and existing homes, closings dropped in February after also declining in January year-over-year.
Pricing and Mortgage Trends
The average new home value went from $152,741 last year to $215,424,. This followed a 42.5% bump in January year-over-year.
From the year-ago figure of $122,193, the average mortgage size on new homes moved up to $198,074. Average mortgage size on new homes went from $175,887 in January 2012 to $223,529 in January 2013. The overall percentage of sale price that was being financed rose 11.9 percentage points year-over-year to 91.9% in February 2013. In January 2013, there was a 9.7 percentage point decline in January from a year earlier.