Tag Archives: New Home Purchases

Purchase demand remained strong in August for newly constructed homes, increasing 20.6% compared to a year ago, according to the MBA Builder Application Survey, while the average loan size for new homes increased to $398,092.

“Applications for purchase loans on newly constructed homes remained strong in July, up 36% annually, as new homes continued to account for a growing share of homes available for sale,” said Joel Kan, MBA’s VP and Deputy Chief Economist.

The MBA reports that new home purchase mortgage applications in June rose 26.1% year-over-year, despite mortgage rates nearing the 7% mark.

The MBA reports that despite rates over the 6% mark and low for-sale inventory stunting overall sales, mortgage applications for new home purchases increased 0.6% in March compared to one year ago.

According to the MBA’s Builder Application Survey, new home purchases applications decreased in January, although applications remain 42% higher compared to 2022’s totals.

The MBA reports July purchase mortgage applications for new homes dipped 16.1% year-over-year, as high prices and economic instability continue to force the nation’s home buyers to reconsider their options.

New data from the Mortgage Bankers Association (MBA) Builder Application Survey (BAS) for May 2022 shows mortgage applications for new home purchases have decreased an overall 5% in ...

As builders continued to face rising costs, supply-chain issues, and extended completion times, the buying market has cooled amid high mortgage rates and lingering affordability concerns.

There is a housing shift occurring in the investment market. During the housing crash, big investors stocked up on thousands of foreclosed properties for single family rentals with intentions of selling them when home prices recovered. But they didn’t.