New Home Mortgage Applications Down 27.4% YoY in July-MBA

Mortgage applications for new home purchases in July 2021 dropped 27.4% from the same month last year. DXY down -0.02%, EUR USD up +0.04%

Compared to June 2021, applications dropped by 4%. The change does not include an adjustment for typical seasonal patterns.
Joel Kan, MBA’s associate, stated that homebuilders still faced increased building costs and accelerating home-price growth from the continued imbalance between supply and demand.
The MBA’s estimate of annualized new home sales showed a jump of more than 10 per cent from June.
The new single-family home sales were running at a seasonally adjusted annual rate of 779,000 units in July 2021.
The seasonally adjusted estimate for July is an increase of 10.7% from the June pace of 704,000 units.
On an unadjusted basis, MBA projected that there would be 64,000 new home sales in July 2021, a 3% decline from 66,000 new home sales in June.

Reader Interactions