Compared
to
last
month,
applications
increased
by
14%.
By
product
type,
conventional
loans
composed
49.0%
of
loan
applications,


FHA
loans
composed
37.0%,
RHS/USDA
loans
composed
0.9%
and


VA
loans
composed
13%.

The
average
loan
size
for
new
homes
decreased
from
$397,516
in
February
to
$381,921
in
March.

“Applications
for
new
home
purchases
increased
in
March,
consistent
with
typical
seasonal
patterns
and
supported
by

mortgage
rates
that
had
been
drifting
lower,”
said

Joel
Kan,

MBA’s
vice
president
and
deputy
chief
economist.
“The
growing
inventory
of
newly
built,
move-in-ready
homes
supported
homebuyer
interest
over
the
month,
pushing
the
index
higher
than
last
year’s
levels.
Our
estimate
of
seasonally
adjusted
new
home
sales
saw
a
slight
decline
in
March
but
were
stronger
than
last
year’s
pace
of
sales.”

Using
mortgage
application
information
from
the
BAS,
MBA
estimates
new

single-family
home
sales,
which
has
consistently
been
a
leading
indicator
of
the
U.S.
Census
Bureau’s
New
Residential
Sales
report,
were
running
at
a
seasonally
adjusted
annual
rate
of
629,000
units
in
March
2025.

The
seasonally
adjusted
estimate
for
March
is
a
decrease
of
0.8%
from
the
February
pace
of
634,000
units.
On
an
unadjusted
basis,
MBA
estimates
that
there
were
61,000
new
home
sales
in
March
2025,
an
increase
of
7%
from
57,000
new
home
sales
in
February.