Seller Saturday; Purchase Applications Suggest Rising New Home Sales

Purchase applications suggest rising new home sales. “On the strength of an improving labor market and low interest rates, January new home sales were up nearly 30 percent from December,” said Lynn Fisher, MBA’s Vice President of Research and Economics.  The Mortgage Bankers Association (MBA) said that based on this volume, which is not seasonally adjusted, it estimates that new home sales were running at a seasonally adjusted annual rate of 530,000 units. On an unadjusted basis MBA estimates that 39,000 new homes sold in January, up 39.3 percent from 28,000 new home sales in December. Full Story…

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