New home sales declined year-over-year in November in the Logan, UT market, but the decline was less than the year-over-year decline in October. New home sales moved from two a year earlier to one after the figure moved from five in October 2010 to none in October 2011.

A total of 18 new homes were sold during the 12 months that ended in November, down from 19 for the year that ended in October.

New home sales represented one out of the 25 total sales, which is a smaller percentage than the two of 14 total sales a year earlier. After staying stable in October from a year earlier, sales of new and existing homes rose in November.

The average new home price was $188,593, down from $200,000 a year earlier. This followed a set of periods with no new home sales in both October 2011 or October 2010

Average mortgage size on newly sold homes saw a decline year-over-year from $160,000 to $150,875.

There was no change in the composition of the new-home market with regard to the types of properties sold in November 2011. Single-family homes continued to account for all of new home sales.

Foreclosures and real estate owned (REO) sales continued to fall from a year earlier in November, but did not appear to be dragging the market. Together, foreclosures plus REO sales represented 8.3% of existing home sales, down from 25.0% a year earlier. The percentage of existing home sales involving foreclosures slipped to no part in November from 8.3% a year earlier while REO sales as a percentage of existing home sales fell to 8.3% from 16.7% a year earlier.

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