MBA Chart of the Week, Apr. 14, 2023: Number of Homes Available for Sale

MBA’s forecast calls for a gradual recovery in home purchase activity in the second half of 2023, driven by some catch-up buying from 2022 when mortgage rates surged and by younger age cohorts entering homeownership. However, this recovery will be dependent on affordability conditions improving

February New Home Purchase Mortgage Applications Up 4%

The Mortgage Bankers Association on Thursday reported mortgage applications for new home purchases increased by 4 percent in February from January and by 1.2 percent from a year ago.