January, February Data Suggest Strong New Home Sales in 2015
A newly released set of housing data comparing January and February home sales suggests that 2015 should be a strong year for the sale of newly-constructed homes.
As reported by Mortgage News Daily, the Mortgage Bankers Association announced on Thursday that applications for mortgages to purchase newly constructed homes jumped 12 percent from January to February, and the organization estimates that sales of newly constructed single-family homes are running at a seasonally adjusted annual rate of 487,000 units.
“An increase in mortgage applications to builders in February over strong January numbers bodes well for new home purchases this year,” said Lynn Fisher, MBA’s Vice President of Research and Economics. “Applications in both January and February were up on a year over year basis.”
Image via flickr/Great Valley Center