"MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 641,000 units in February, based on application data and assumptions about market coverage. That is down 3.3% from an estimated 663,000-unit pace in January."
"Kan said macroeconomic uncertainty and a weakening job market likely weighed on demand, and he pointed to emerging signs of cooling in some high-supply Sun Belt markets despite slower home-price growth."
"The February data underscores a key dynamic in the 2026 housing market: new construction continues to capture demand that existing-home supply cannot meet, but monthly volatility remains tied to interest rates, employment and regional inventory patterns."
"For lenders focused on purchase business, the steady year-over-year gain in new-home applications alongside a modest drop in average loan size and elevated FHA share points to a market where entry-level and first-time buyers remain active but rate-sensitive."
New-home sales declined in February, with the seasonally adjusted annual rate falling to 641,000 units from 663,000 in January. Unadjusted sales totaled 57,000 units, down 1.7% monthly. Macroeconomic uncertainty and job market weakness pressured demand, with some Sun Belt markets showing cooling signs despite slower price growth. Conventional loans represented 49.4% of applications, while FHA loans accounted for 35.3%, VA loans 14.1%, and USDA loans 1.2%. Average loan sizes decreased to $383,570, indicating a shift toward lower price points. The MBA Builder Application Survey serves as a leading indicator for Census Bureau data, reflecting ongoing market dynamics where new construction meets demand existing homes cannot satisfy.
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