New Home Purchase Mortgage Apps Increase Year Over Year

Mortgage Applications for New Homes Increase by 22% in December 2023

According to the recently released Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data, mortgage applications for new home purchases saw a significant increase of 22.2% when compared to the previous year. This surge in mortgage applications reflects the growing demand for new homes in the real estate market. Despite a decrease of 4% compared to November 2023, the data indicates a sustained upward trend in the market.