According to the Mortgage Bankers Association (MBA), mortgage applications for new home purchases were up 17 percent from February, and sales of new homes appear to have surged in March, though the data is not seasonally adjusted. MBA's Vice President of Research and Economics, Lynn Fisher, said that applications for new home purchases during the first quarter of 2015 increased 20 percent. The increase corresponds to the first quarter of last year, and it seems that continued strength in builder applications raises the likelihood that homebuyers will purchase more homes over the next few months.
New single-family homes were estimated to sell at a seasonally adjusted annual rate of 510,000 units in March, an increase of 4.7 percent from February's estimate of 487,000 units. MBA estimates, on an unadjusted basis, that there were 49,000 new homes sold, which is a 16.7 percent increase from the 42,000 sold in February. The average loan size to purchase a new home increased from $311,379 in February to $314,394 in March, all of which shows to a stronger housing markets.
If you are ready to take the next step towards purchasing your new home and for all of your other real estate needs, contact Cook Real Estate Services today at (678) 207-1505, or you can e-mail us at info@CookRES.com. Whether you are buying or selling, one of our trusted professionals will be there to help you every step of the way.
Comments(1)