New Home Purchases Rise Sharply in January The Mortgage Bankers - TopicsExpress

New Home Purchases Rise Sharply in January The Mortgage Bankers Association estimates that sales of new, single-family homes were running at a seasonally adjusted annual rate of 543,000 units in January, based on data from MBA’s Builder Applications Survey (BAS). The estimated 543,000 unit sales pace for January was an increase of 35 percent from December’s pace of 402,000 units. The new home sales estimate is derived using mortgage application information from the BAS, as well as assumptions regarding market coverage and other factors. Mortgage applications for new home purchases increased 27 percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns

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