Normal seasonal stall for new home sales

By Jann Swanson | Mortgage News Daily

The Mortgage Bankers Association is forecasting that new home sales in July were down by 8 percent compared to June. Sales during the month will surpass those in July 2015 by 2.4 percent, the slowest year-over-year growth thus far in 2016. MBA bases its projections on its Builder Applications Survey (BAS), which gathers data on mortgage applications from the mortgage subsidiaries of new home builders. The month over month change in sales is not seasonally adjusted.

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August 11, 2016

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