Posted To: MND NewsWire
The Mortgage Bankers Association is projecting a sizeable decline in new home sales occurred last month as applications for their purchase declined 3 percent month-over-month and were 23.8 percent lower than in June 2020. The change does not include any seasonal adjustment. Based on the application data, gathered from its Builder Application Survey (BAS) and other data including an estimate of market coverage, MBA estimates that single-family home sales were running at a seasonally adjusted annual rate of 704,000 units in June 2021. This is a decrease of 5 percent from the May pace of 741,000 units. On an unadjusted basis, MBA estimates that there were 66,000 new home sales in June 2021, a decrease of 2.9 percent from 68,000 sales in May. “Homebuilders are encountering stronger headwinds of…(read more)
