By Jann Swanson | Mortgage News Daily
Sales of newly constructed homes ticked up 7 percent in September when compared on a non-seasonally adjusted basis to August according to the Mortgage Bankers Associations (MBAs) Builder Application Survey (BAS). MBA said sales were 3 percent higher than in September 2015.
MBA issues a monthly estimate of new home sales based on the BAS which is conducted with the mortgage subsidiaries of major home builders. Official new home estimates come from the U.S. Census Bureau and the Department of Housing and Urban Development. Those numbers for September will be released on October 24.
