The Mortgage Bankers Association Builder Application Survey data for January 2020 shows mortgage applications for new home purchases increased 35.3% compared from a year ago. Compared to December 2019, applications increased by 40%. This change does not include any adjustment for typical seasonal patterns.
MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 865,000 units in January 2020, based on data from the BAS. The new home sales estimate is derived using mortgage application information from the BAS, as well as assumptions regarding market coverage and other factors.Read More