Friday, 30 September 2022 | The Latest Buzz for the Appraisal Industry

New Home Purchase Applications Plummet

By Tory Barringer

The Mortgage Bankers Association (MBA) monthly survey of loan application volumes at home builders shows new home purchase activity was down 22 percent month-over-month in November, the group said Thursday. Looking at all indicators, MBA estimates new single-family home sales ran at a seasonally adjusted annual rate of 401,000 units last month, a 13 percent drop from the association’s October estimate.

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