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MBA has a More Upbeat View on New Home Sales

Friday, March 15, 2019

Even though the January Census Bureau report on new home sales published on Thursday wasn't all that encouraging for the spring market, the Mortgage Bankers Association (MBA) is predicting more upbeat news for February.  The Association's Builder Application Survey (BAS) shows a 6 percent increase in new home purchase applications from the previous month and a 3-point gain from February 2018.  Those numbers are not seasonally adjusted. MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 690,000 units in February 2019, based on its survey data and assumptions regarding market coverage and other factors. 

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