MBA Betting on New Home Sales Surge

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Posted To: MND NewsWire

Applications for new home purchases jumped 15.6 percent in April compared to a year ago and were 3.0 percent higher than in March. The Mortgage Bankers Association said these non-seasonally adjusted numbers indicate there will be a strong increase in new home sales for the month. "There was a healthy increase in new home purchase activity in April, boosted by the strong economic and employment conditions seen in the first quarter of 2019," said Joel Kan, MBA's Associate Vice President of Economic and Industry Forecasting. "Applications for new home purchases increased, as did our estimate for new home sales. After two months of declines, MBA estimates that April new home sales were 10 percent higher than last April and reached the highest annual pace since this survey's inception in 2013."...(read more)

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Source: http://www.mortgagen...

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