Tampa, FL - Newest New Home Sales Numbers Give Hints Market Gain Building
Posted on: May 07, 2012 09:51:33 AM
There was a rise in sales of new homes in the Tampa, FL market in February year-over-year, and there were signs of strengthening market conditions as the percentage hike was sharper than January 2012. New home sales saw a 29.4% rise from a year earlier to 348 after sales rose 15.5% in January from the year earlier.
A total of 4,432 new homes were sold during the 12 months that ended in February, up from 4,353 for the year that ended in January.
Out of all housing sales, new home sales accounted for 8.6%. This is up from the 7.0% of sales a year earlier. For new and existing homes, sales increased year-over-year in February after also increasing in January year-over-year.
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Pricing and Mortgage Trends
From February 2011 to February 2012, the average price of newly sold homes went from $216,691 to $218,111. This came after a 3.1% decline in January from a year earlier.
The average mortgage size on new homes moved north year-over-year along with new home prices. In February 2012, there was a 3.4% rise in the average mortgage size, reaching $192,872. It went from $202,814 to $203,994 from January 2011 to January 2012. For new home sales, the percentage of the sale price that was being financed rose 2.3 percentage points year-over-year to 88.4% in February 2012.
Tampa, FL - Newest New Home Sales Numbers Give Hints Market Gain Building
Posted on: May 07, 2012 09:51:33 AM
There was a rise in sales of new homes in the Tampa, FL market in February year-over-year, and there were signs of strengthening market conditions as the percentage hike was sharper than January 2012. New home sales saw a 29.4% rise from a year earlier to 348 after sales rose 15.5% in January from the year earlier.
A total of 4,432 new homes were sold during the 12 months that ended in February, up from 4,353 for the year that ended in January.
Out of all housing sales, new home sales accounted for 8.6%. This is up from the 7.0% of sales a year earlier. For new and existing homes, sales increased year-over-year in February after also increasing in January year-over-year.
Pricing and Mortgage Trends
From February 2011 to February 2012, the average price of newly sold homes went from $216,691 to $218,111. This came after a 3.1% decline in January from a year earlier.
The average mortgage size on new homes moved north year-over-year along with new home prices. In February 2012, there was a 3.4% rise in the average mortgage size, reaching $192,872. It went from $202,814 to $203,994 from January 2011 to January 2012. For new home sales, the percentage of the sale price that was being financed rose 2.3 percentage points year-over-year to 88.4% in February 2012.
Other Market Trends
Sales of attached units, as a percentage of new home sales, have climbed from last year while sales of single-family homes have dipped. Attached unit sales grew from 24.2% of all sales in February 2011 to 30.2% of sales in February 2012. Meanwhile, single-family home sales as a percentage of all new home sales fell to 69.8% of sales from 75.8% of sales.
The average unit size of newly sold homes slid 17.5% year-over-year to 1,677 square feet in February 2012. In January, the average size of new homes sold went from 1,888 square feet a year earlier to 1,721 square feet.
Foreclosures and real estate owned (REO) sales fell in February from a year earlier, but remained a drag on the market. Foreclosures and REO sales, taken together, represented 43.6% of existing sales, lower than 63.5% a year earlier. The percentage of existing home sales involving foreclosures rose to 24.9% in February from 23.3% a year earlier while REO sales as a percentage of existing home sales dropped to 18.8% from 40.2% a year earlier.
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Source: Housing Intelligence